Energy Companies Demand Government Funds for Wind Farms

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UK – Energy companies in the United Kingdom have given a warning to the government that plans for several wind farms are going to be done away with unless they are given £2 billion worth of immediate aid from the stateScrapping these wind farms would leave the pollution reduction targets of Whitehall in shreds.

Companies have been putting off the start of many large projects, including the London Array development worth £3 billion and the Gwint y Mor farm development by Npower off the coast of Wales, which is worth £2.2 billion, until a decision has been made by the government on if they will provide more capital to offset the costs of building, which have doubled during the last three years.

The London Array development is potentially the largest offshore wind farm across the globe and is already under threat due to the conditions of the economy. Shell pulled their company from the project last year, while Centrica and e.on have voiced significant worries about the prospects for large wind schemes, of which are necessary if the nation is going to meet their goals for renewable power.

Last week, the British Wind Energy Association wrote to the government warning that the sector is on the edge of their seat due to the crisis making financing for these projects very expensive. The soaring costs and the crisis have opened a gap in funding amounting to around £2 billion for a total of nine projects, which have planning consent without being built yet. The costs for these to be completed is estimated to be £12 billion. The association warned that there won’t be enough power for about 4 million homes if they do not receive the funding

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