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The Low Carbon Economy Ltd

29 Jul 2009 10:07:51

More funding required for UK windfarms

More funding required for UK windfarms
More funding is required if windfarms are to contribute significantly to the UK's power generation capacity, it has been suggested.

According to the Renewable Energy Centre (REC), the government also needs to invest in promoting the onshore and offshore wind industry as a viable and profitable source of low-carbon electricity.

The environmental group's comments came after the Department of Energy & Climate Change (DECC) announced that three UK banks will be working with the European Investment Bank (EIB) to provide £1 billion of loans to onshore wind developments.

A spokesperson for the REC said: "The urgency of providing clean and green energy is becoming more and more evident.

"Without further investment and a reduction in red-tape, the UK will fall behind its green energy targets."

She added that wind energy will become "essential" to the provision of uninterrupted, low-carbon power supply across the UK over the next five to ten years.

The £1 billion fund for loans announced by the DECC is part of £4 billion that has been set aside by the EIB to support the energy projects in the UK.



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