Government must act now on its £1 billion promise to independent wind sector
Lord Jim Wallace calls for action for SME wind developers at SmartestEnergy’s "Independent Generation and Economic Climate Change" conference in Glasgow on Thursday
The Government must act now to ensure independent wind developers benefit from its £1 billion promise to the onshore wind sector, says former Deputy First Minister for Scotland, Lord Jim Wallace of Tankerness.
In a keynote address to be delivered on Thursday 17 September at a conference in Glasgow hosted by SmartestEnergy, the UK’s largest purchaser and supplier of renewable energy from the independent generation sector, Lord Wallace will encourage the Government to make the promised funds more accessible to the independent sector.
"In July, the Government announced that three banks – RBS, Lloyds and BNP Paribas Fortis – would be working with the European Investment Bank to lend £1 billion to onshore wind projects. It is vital that this money reaches those who really need it, the small and medium sized independent developers who have been hit hardest by the credit crunch," Lord Wallace says.
"If we have any chance of achieving our targets for 2020, it is clear we cannot rely solely on the utility companies or major corporate developers. Independent developers can deliver projects to market more quickly, and bring benefits over and above climate targets, including sustainable income, sustainable local jobs and community investment. There are numerous projects of this size throughout Scotland and the rest of the UK which have been consented but which cannot move forward due to lack of credit finance. The Government needs to spell out, very quickly and very clearly, how the smaller independent sector can access these funds so we can get these projects moving and create a more sustainable future for all."
An example of the benefits to be gained from smaller scale renewable energy development is a new wind project on the island of Westray, within what was Lord Wallace’s Orkney Islands constituency. This is owned by a community development trust and was developed to provide the island with a sustainable income and drive community environmental and sustainability projects after depopulation and contraction of traditional farming and fishing industries.
Iain Robertson, SmartestEnergy’s Business Development Manager for Scotland, added: "It is the independent energy entrepreneurs and developers which are key to meeting renewable energy targets while simultaneously delivering wider economic and community benefits. SmartestEnergy has always been a champion of the independent sector and we are pleased to be working with such a wide range of energy entrepreneurs across Scotland and the rest of the UK."
SmartestEnergy is working with hundreds of independent generators across the UK, with projects ranging from sub-1MW to 420MW capacity.
The conference – "Independent Generation and Economic Climate Change" – organised and hosted by SmartestEnergy, has been designed to highlight the range of options and opportunities for independent renewable energy project developers across Scotland.
The conference will be held at the Radisson SAS Hotel in Glasgow on Thursday 17 September from 9.30am. Places are limited. If you would like to attend or receive more information please contact David Hopkins or Lucy Evans below.
