Wind Power to get Big Boost

The government has just announced today that it is willing to exert influence over Royal Bank of Scotland and Lloyds Banking Group to make sure that wind power gets the boost that it needs. This time the boost comes in the form of £1 billion in lending to wind farm developers who are suffering from a lack of cash.

This new boost comes as Greenpeace unveils new figures that show the local councils run by the Conservative party block more than three times as many wind farms as they have approved. This new boost could come at the right time since Vestas, the UK’s only major wind turbine maker, has been threatening to close its plants on the Isle of Wights this week. They say they may do this because of the lack of a vibrant domestic market.

The energy and climate change secretary, Ed Miliband, argues that the £1 billion of loans organized through the partly state-owned banks will kick start 1 gigawatts of onshore wind schemes that have been delayed due to the credit crunch. This would make enough power to cover up to 2 million UK homes.

Miliband went on to say that, earlier this month, they laid out a transition plan for a low carbon economy, which included a massive expansion of green wind energy. He said that, on top of the proposal, they are also reforming planning laws and working with local communities to help persuade people of the need to increase onshore wind farms. Miliband believes that wind energy will play a big role in helping the UK reach its carbon emission goals.