ESRI have serious doubts about the long term viability of Midlands Wind Farm Project
Laois Wind Energy Awareness GroupLaois Wind Energy Awareness Group
Laois Wind Energy Awareness GroupLaois Wind Energy Awareness Group
A leading economist with the Economic and Social Research Institute Ireland (ESRI), Professor John Fitzgerald says that farmers considering wind energy contracts in the Midlands should ensure that the promoters of the project sign “rock solid contracts backed by the British Government”
In the Irish Farmers Journal (6 Apr 2013), he said that while the multi–billion euro project is potentially attractive from an economic point of view, it carries considerable risk, given its long term nature and dependence on current British Government’s energy policy being maintained.
If the UK leave the EU, “it would no longer be required to comply with the renewable energy directive”.
He explained that “the prices available under current British energy policy certainly look attractive, but given the long term nature of the project, those returns could change within the lifespan of the project”.
Regarding the contracts that farmers across the midlands are signing he said that “contracts with private companies in Britain would not be sufficient, he said as the companies could potentially become insolvent in the event of a change in energy policy”.
Despite the reservations by the ESRI, Minister Pat Rabbitte is very eager to push ahead with this midlands wind farm project having being quoted as saying “there is no point in getting the planning right and finding no companies left” (Leinster Express, 12 March 2013).
The Laois Wind Energy Awareness Group have real concerns that hundreds of wind turbines will be put up across Laois and in the long term may be abandoned by the private equity firms that put them. These monstrosities will be left to rust, destroying our landscape or else they will end up in a NAMA for Wind Farms and costing the Irish Taxpayer millions annually.
Contact: Ray Conroy 087 2786088
URL to article: https://www.wind-watch.org/news/2013/04/07/esri-have-serious-doubts-about-the-long-term-viability-of-midlands-wind-farm-project/