Renewable energy companies have suffered from poor management and a lack of ambition, while the sector has failed to withstand the impact of the credit crisis, a senior figure in the private equity industry has said. His remarks follow a bigger slump in clean energy stocks in the third quarter than in other sectors.

Tom Murley, head of renewable energy at buyout firm HgCapital, said the renewable energy sector has reached a "trough of disillusionment" as inexperienced management have implemented poor business plans and failed to improve performance.