Wednesday, March 10, 2010

It's started

Recognising a bargain when they see it, the investment firm Low Carbon Accelerator (LCA) has invested £500,000 in wind and solar power project developer Vigor Renewables in order to cash-in on UK feed-in tariffs (FITs).

Vigor, we are told, is a new company formed to take advantage of changes to UK FITs, which aims to partner with land-owners, as well as commercial property owners and managers, to build and operate renewable power generating assets across the UK.

Each of the solar and wind energy sites they build will be designed to qualify for the FITs which come into effect in the UK on 1 April 2010 and "guarantee an inflation linked income for sub-5MW renewable energy projects." For solar projects, the incentives are available for 25 years and for wind 20 years.

In an unfortunate turn of phrase, Vigor managing director Oliver Hughes says the FIT has created a "wealth of opportunity" for renewable energy developers in the UK. "We are pleased that LCA, as a pioneer in clean-tech investment, has recognised this opportunity and the return potential for investors and for property and land-owners," Hughes said.

So it starts ... the pigs rush to the trough, scooping up the cash by the handfuls. They would be mad not to do so. The government has devised an utterly mad system designed to put £8.6 billon a year into the kitty, available for anyone able to afford the initial investment. AND THE REST OF US PAY.

This one, like so many, has crept in under the radar, a perverted, distorted reverse Robin Hood scheme where the poor are robbed to give to the rich. And even with today's debauched currency, £8 billion plus A YEAR is a lot of money – you could build four aircraft carriers a year with that, every year.

This is money which is going to be siphoned out of our pockets, all to produce electricity in one of the least efficient and most expensive ways known to man. On our backs, will arise a vast, bloated "green" industry, milking the poor and the less-well-off, just to pay homage to a mad obsession. In Zimbabwe, runaway inflation produced scenes such as the one shown. If you see something similar in Britain, you are looking at a solar energy developer.