Solar power enjoyed a huge run-up in 2007, only to be followed by a withering drop in equity prices. Perhaps now is an apt moment to state something about our approach. While we enjoyed the rise and disliked the drop, neither one matters too much to our strategy.
We are long-term investors. Market drops and volatility are of a great interest to us, largely because they can affect buying opportunities. Some of our holdings we may never sell, which is a novel attitude for a private equity firm to take. But our minds are focused on the future of alternative energy. It’s a young business and we are in the early stages.