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Finance Review

The DTI has scheduled a review of the Renewables Obligation for 2005/06. In May the BWEA wrote to the new Minister calling for that review to be brought forward, as some key issues in the financing of wind projects were becoming apparent even after only one year of operation of the new scheme.

To support its claim that financing was an issue, the BWEA commissioned a study by Ian Temperton. This study involved a survey of over 60 companies in the wind and financial sectors, as well as theoretical analysis of the investment incentives provided by the Renewables Obligation. Two of the reports are included below. ‘Survey Results’ gives on overview of the major issues raised by those surveyed in the study. ‘Possible Solutions’ discusses a range of potential changes to the financing regime for wind energy in the UK.

It must be emphasised that none of the solution ideas discussed are BWEA policy. We are now turning to our members to get their formal response to some of the issues and proposals made in the study. We have arranged a number of ways in which members can engage with us on this issue.