BMI View: We have maintained our 2013 forecasts for non-hydropower renewable energy generation this quarter. This is because our previous assumptions remain relevant and new data corroborates our forecasts. We note that economic weakness is likely to continue over the long-term due to a lack of export competitiveness. This will translate to weak growth in electricity consumption. An audit conducted by the French Court of Auditors in July on renewable energy subsidies further reinforces our bearish outlook for the sector. We have maintained our 2013 forecasts for non-hydropower renewable energy generation in France at 6.4% this quarter. This is because …
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