[ exact phrase in "" • results by date ]

[ Google-powered • results by relevance ]


Add NWW headlines to your site (click here)

when your community is targeted

Get weekly updates

RSS feeds and more

Keep Wind Watch online and independent!

Donate via Stripe

Donate via Paypal

Selected Documents

All Documents

Research Links


Press Releases


Campaign Material

Photos & Graphics


Allied Groups

Wind Watch is a registered educational charity, founded in 2005.

News Watch Home

Plans to build more wind farms are ‘deluded’, L&G boss warns the government 

Credit:  By James Salmon | Mail Online | Daily Mail | 9 August 2013 | www.thisismoney.co.uk ~~

Plans to build more wind farms are ‘deluded’, one of Britain’s biggest investors warned the Government.

Dr Nigel Wilson, chief executive of insurance giant Legal & General, said the controversial green energy strategy will carpet the countryside with ‘ugly modern windmills’ and result in even higher bills for hard-pressed consumers.

Wilson yesterday confirmed plans to invest more than £1billion a year on infrastructure projects including homes, roads, and airports.

But he said he would not put a single penny into wind farms because they are too ‘inefficient’ and ‘expensive’.

In an outspoken attack, Wilson said: ‘The Government is deluding itself that it is saving the world by building these ugly modern windmills.

‘This is a very expensive and inefficient way of producing electricity. I fear we will end up having to import it from elsewhere.’

He added: ‘It is sad that normal people are having to pay even more for the government’s inefficient energy strategy, on top of their already very expensive energy bills.’

The comments are a blow for the government, which is trying to persuade insurance companies to invest in big infrastructure projects, including renewable energy.

As Britain’s second biggest insurance company Legal & General runs more than £430billion of savings, investments and pensions on behalf of its customers.

In recent years the firm has invested £4billion in UK’s creaking infrastructure, with the money going to projects including house-building and solar energy.

Last night campaigners described the FTSE 100 firm’s rejection of wind farms as a ‘big blow’ to the Government’s energy strategy.

Dr John Constable, director of charity the Renewable Energy Foundation, described wind farms as ‘risky’, ‘unreliable’ and ‘dependent on subsidies’.

He said: ‘L&G’s reservations are a big blow to the government’s plans and suggest that prudent investors don’t think the returns on offer from windfarms are worth the risk. Investors are also gambling on the continuing political will to inflict very high costs on consumers’.

Ordinary households have been forced to subsidise wind farms and other government environmental projects through higher energy bills.

The Renewable Energy Foundation estimates that consumers currently pay around £1.6  billion a year in subsidies. This is expected to rise to £6billion a year by 2020 to meet targets for providing 30 per cent of electricity through green energy.

This could add £200 to households’ average annual energy bills, according to the charity.

Last week deputy prime minister Nick Clegg announced £66million of fresh government funding for wind farms, claiming it would help make the UK a ‘world leader’ in the sector and create 30,000 British jobs by the end of the decade.

It came as he officially opened a new £1billion wind farm off the Lincolnshire coast. The Government hopes offshore wind farms will power up to 11 million homes by the end of the decade.

Source:  By James Salmon | Mail Online | Daily Mail | 9 August 2013 | www.thisismoney.co.uk

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

Wind Watch relies entirely
on User Contributions
   Donate via Stripe
(via Stripe)
Donate via Paypal
(via Paypal)


e-mail X FB LI M TG TS G Share

News Watch Home

Get the Facts
© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.


Wind Watch on X Wind Watch on Facebook Wind Watch on Linked In

Wind Watch on Mastodon Wind Watch on Truth Social

Wind Watch on Gab Wind Watch on Bluesky