Tilting at windmills: Even Tory supporters want Mr Osborne to go green

Until Alexander Temerko added his voice to the grumbling,  public complaints had come almost exclusively from green groups, rival politicians and industry analysts

Share

There is nothing unusual about investors wanting better subsidies and a crystal ball. And there is nothing new in potential backers of wind farms complaining that the lack of a clear government strategy is making them think twice about investing – as a key Tory party donor does today.

Alexander Temerko adds his voice to those of other potential investors in renewable energy projects. The charge is that the Coalition’s lack of commitment to green electricity, specifically its failure to set targets that would ensure sufficient demand, has undermined the confidence needed to back long-term projects.

So far, public complaints have almost exclusively come from green groups, rival politicians and industry analysts. Grumblings from investors have been kept private. What makes Mr Temerko’s intervention significant, then, is that it comes from a staunch Conservative.  But even he now says enough is enough.

With good reason. Between our weather and our island geography, Britain is unusually well-placed to build a booming wind power industry, creating tens of thousands of jobs, tens of billions of pounds of revenues and billions in taxes. But the absence of any clear renewable energy targets beyond 2020 – since the Chancellor scrapped a proposal to make the UK electricity supply almost wholly green by 2030 – make it difficult to gauge prospective demand for wind power beyond the next seven years.

Given the long-term nature of investment decisions, turbine makers and others in the supply chain are wary of setting up shop in Britain. In the short term, that means most work building our wind farms will be done abroad. In the longer term, it means Britain will not produce as much wind power as many – including The Independent – think it should.

React Now

Latest stories from i100
iJobs Job Widget
iJobs General

Recruitment Genius: Business Development Manager / Sales - OTE £45,000

£35000 - £45000 per annum: Recruitment Genius: This company is a solutions / s...

Recruitment Genius: Sales Executive - OTE £45,000

£18000 - £45000 per annum: Recruitment Genius: A Sales Executive is required t...

Recruitment Genius: Test Development Engineer

£35000 - £40000 per annum: Recruitment Genius: Are you inspired to bring new a...

Recruitment Genius: Trainee Motor Engineer

£14000 - £18000 per annum: Recruitment Genius: This is an exciting opportunity...

Day In a Page

Read Next
Kennedy campaign for the Lib Dems earlier this year in Bearsden  

Charles Kennedy: A brilliant man whose talents were badly needed

Baroness Williams
Nick Clegg (R) Liberal Democrat Leader and former leader Charles Kennedy MP, joined the general election campaign trail on April 8, 2010  

Charles Kennedy: The only mainstream political leader who spoke sense

Tim Farron
Sepp Blatter resignation: The beginning of Fifa's long road to reform?

Does Blatter's departure mean Fifa will automatically clean up its act?

Don't bet on it, says Tom Peck
Charles Kennedy: The baby of the House who grew into a Lib Dem giant

The baby of the House who grew into a Lib Dem giant

Charles Kennedy was consistently a man of the centre-left, dedicated to social justice, but was also a champion of liberty and an opponent of the nanny-state, says Baroness Williams
Syria civil war: The harrowing testament of a five-year-old victim of this endless conflict

The harrowing testament of a five-year-old victim of Syria's endless civil war

Sahar Qanbar lost her mother and brother as civilians and government soldiers fought side by side after being surrounded by brutal Islamist fighters. Robert Fisk visited her
The future of songwriting: How streaming is changing everything we know about making music

The future of songwriting

How streaming is changing everything we know about making music
William Shemin and Henry Johnson: Jewish and black soldiers receive World War I Medal of Honor amid claims of discrimination

Recognition at last

Jewish and black soldiers who fought in WWI finally receive medals after claims of discrimination
Beating obesity: The new pacemaker which helps over-eaters

Beating obesity

The new pacemaker which helps over-eaters
9 best women's festival waterproofs

Ready for rain: 9 best women's festival waterproofs

These are the macs to keep your denim dry and your hair frizz-free(ish)
On your feet! Spending at least two hours a day standing reduces the risk of heart attacks, cancer and diabetes, according to new research

On your feet!

Spending half the day standing 'reduces risk of heart attacks and cancer'
Liverpool close in on Milner signing

Liverpool close in on Milner signing

Reds baulk at Christian Benteke £32.5m release clause
With scores of surgeries closing, what hope is there for the David Cameron's promise of 5,000 more GPs and a 24/7 NHS?

The big NHS question

Why are there so few new GPs when so many want to study medicine?
Big knickers are back: Thongs ain't what they used to be

Thongs ain't what they used to be

Big knickers are back
Thurston Moore interview

Thurston Moore interview

On living in London, Sonic Youth and musical memoirs
In full bloom

In full bloom

Floral print womenswear
From leading man to Elephant Man, Bradley Cooper is terrific

From leading man to Elephant Man

Bradley Cooper is terrific
In this the person to restore our trust in the banks?

In this the person to restore our trust in the banks?

Dame Colette Bowe - interview