Energy
Ecotricity saves wind firm from administration
Renewable energy firm Ecotricity has bought a small wind firm out of administration, while blaming government policies for leaving “investors spooked”.
Small wind firm Evance has been working on an innovative new windmill design, which was 90% of the way through development and nearing production stage when government policy changes led to investors pulling their money. Evance has so far manufactured and supplied almost 2,000 smaller windmills to Britain and other locations globally.
Ecotricity said that by purchasing the firm they are ensuring that “vital expertise” and green technology will come to market in the next 12 months. Evance entered administration after the Conservatives pledged to end onshore wind subsides if they win the next general election.
Energy minister Michael Fallon argued that there are now enough wind farms in place to meet renewable targets without the need for subsidies. The pledge was heavily criticised by the sector and campaign groups.
Ecotricity founder Dale Vince said, “So many small wind companies are going out of business in Britain due to government policy. With the green sector responsible for around 10% of Britain’s GDP growth that’s hard to fathom.”
He added that he agreed with recent comments made by financier and investor Guy Hands. Writing in the Guardian, Hands said that crisis in Ukraine demonstrated the importance of the energy security provided by domestic renewable energy projects.
“We have a large industry of successful and enterprising renewable energy businesses which are ready to rise to the challenge of powering homes and businesses from clean and sustainable sources,” he wrote.
“But politicians are being pressed by a coalition of opponents of renewable energy to ignore this potential.”
A recent YouGov poll commissioned by Ecotricity found that two-thirds of Britons would choose wind energy over fracking. The firm has previously accused the government of having “double standards” when it comes to the two energy sources.
Vince added, “All recent opinion polls, including the government’s own, show that two thirds of people support wind energy as a way of powering Britain now and in the future.
“For the sake of an ideological opposition to renewable energy, this government is scaring off investment that is threatening to kill of Britain’s small wind sector and drive green sector jobs, expertise and technology abroad. It’s important that we don’t let this happen.”
Photo: Colin Brough via Freeimages
Further reading:
Green Investment Bank to support onshore wind sector
Conservatives pledge to end onshore wind subsidies
Poll: two-thirds of Britons favour wind power over fracking
Why is the ‘greenest government ever’ reportedly curbing onshore wind?