Financial Times FT.com

Rising costs threaten wind farms

By Fiona Harvey, Environment Correspondent

Published: April 8 2009 23:06 | Last updated: April 8 2009 23:06

At least five big wind energy projects are in danger of being delayed or shelved owing to higher costs and a shortage of credit, the British Wind Energy Association said on Wednesday.

The projects, which are offshore, amount to about three gigawatts of wind energy capacity or almost a 10th of the amount needed to meet government targets. All were expected to receive final agreement on their funding this year but sterling’s decline has raised the cost of some imported turbine components while project finance conditions have now tightened.

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