17 Nov 2008
The Renewable Energy Centre.co.uk is disappointed with BP moving wind investments to the USA.
The Renewable Energy Centre announced today that it was disappointed with BP moving its renewable investments to the United States. In a statement issued this week BP said that due to economies of scale and long planning timescales its wind power investments in the UK would be shelved.
The Renewable Energy Centre said that the UK still remained one of the best locations in the world for wind power investment, with Round 3, offshore wind farm sites becoming available in the near future, the potential for the renewable energy sector was extremely positive. Despite the disappointment with regard to BP who joins Shell in moving their renewables out of the UK, there are a broad range of investors committed to driving the UK’s energy sector forward.
The Renewable Energy Centre supported the statement made by the British Wind Energy Association (BWEA) which stated “The offshore wind market is evolving and getting stronger. Different investors will come and go at different stages of the development cycle. But whoever the players are we know that the offshore industry will be generating massive amounts of electricity for the UK market in the next few years.”
BP’s announcement also included its retraction from the governments’ competition to develop a successful Carbon Capture and Storage (CCS) process. This is a significant blow to the government who carefully shortlisted four companies to bid for the project. The Renewable Energy Centre said that this decision was a setback for the government and the potential development of CCS but that the other companies involved would still proceed with the bid. In order for the government to allow the construction of any new coal fired power stations, CCS has to be deployed in order to eliminate carbon emissions from the plants.
So far the government has been slow to invest in CCS development but now has finally moved a step closer in order to enable new coal fired power stations to be built. The Renewable Energy Centre said that although it supported the development of CCS, it would not support the construction of new coal fired power stations.
Richard Simmons Managing Director at The Renewable Energy Centre said “It is a huge indictment of the red tape and planning system in the UK that has caused BP and Shell to say enough is enough. These companies are two of the world’s most resourceful companies with the fire power to make a massive impact on the UK’s progress with renewables. It is an utter disaster that the UK government has disenchanted them.”
The Renewable Energy Centre said that improving the grid infrastructure and reducing planning timescales were critical to the success of the renewable energy sector significantly moving forward. Through the development of CCS the UK could reduce its carbon footprint from existing power stations and focus on clean sources of energy.
Although disheartened by both Shell and BP pulling out of the UK renewables market, The Renewable Energy Centre said that it simply allowed for more diversity in the number and type investors who were committed to the UK’s renewable energy potential.
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