It is "preposterous" to believe that a referendum on secession will not create uncertainty for investors, a top market analyst has said.
Peter Atherton, managing director of researchers and analysts Citigroup, gave evidence to Holyrood's Economy, Energy and Tourism Committee.
Citigroup sparked intense political debate with a report last month on the uncertainty that the independence referendum could create for potential investors in renewable energy.
The report has already been raised in Parliament as an argument against independence by SNP opponents, and Mr Atherton was asked to explain this uncertainty by SNP MSP Chic Brodie.
He said: "Your report quite clearly said an independent Scotland will create uncertainty which threatens renewables investment. It's hardly a positive view, in terms of you saying that you don't know what's going to happen thereafter."
Mr Atherton said: "The idea that you can have referendum on secession and not believe that it creates some uncertainty for investors in certain sectors, like utilities which is a regulated energy sector, is preposterous."
Mr Brodie continued: "It (the report) also has been shot down by the investments in Scotland so far by very large companies, and also by luminaries such as Peter Jones. In The Times (newspaper), he said these simplistic assumptions devalue the Citigroup analyses of the future, something about which I agree.
"Peter Jones said the key factor is that in the event that Scotland becomes independent, the Government of the rest of the UK, meaning England and Wales, will still have to meet its EU carbon emissions reductions target, and that looks to be impossible, impossible, without electricity companies south of the border buying green energy from Scotland.
"How do you equate that with your statement that it creates uncertainty?"
Mr Atherton added: "If you believe that the UK Government can't meet its targets without importing renewable power from Scotland because Scotland has seceded that's absolutely fine. They will no doubt be perfectly happy therefore to sign a PPA (power purchase agreement) for that power, or agree, as we set out in our second report, to say yes to the questions we set out."