This was a plan with the potential to make a major contribution towards solving the developing energy crisis, and to generate 100% renewable wind energy for the UK.
Read and print the executive summary and full plan detail. See synopsis
Thank you for having a look at Wingen. Please know that the Wingen initiative has been stood down as of 12th Jan 09, and therefore it is no longer possible to register interest or invest.
The reason for standing down the project is as articulated in the latest information sheet, copied below.
We are leaving the website itself open for interested parties to take a look at the rationale behind the steer for the rural sector to take ownership of its wind power so securing for itself the potential huge financial gains to be obtained.
The project has created awareness of what could be done by individuals and communities joining forces in wind power development. We would encourage spontaneous generation of local and regional groupings to come together so to do. Hence we will leave the website available as a template of ideas for interested parties to use in as they see fit in such development.
Message from the Chairman…
Merry Xmas and a Happy New Year. And thanks to the 580 registrants for your very supportive declarations of interest. We do however need to take a reality check on where we are.
With my wee advisory team this last two days we have been carefully assessing the situation within the context of the economic world as it is today, and frankly, despite my continuing huge enthusiasm for the initiative, in the current climate, we do not now believe the project is deliverable. The deep concerns are as follows:
1) A big buy in by the rural sector is a crucial element, for both practical and political reasons. Whilst achieving 580 registrants over the last three months has been encouraging, registration has reduced to a trickle. It is thousands we need not hundreds. Average initial investment intentions may be circa £3 to £4k. To achieve the £10M start up funding alone therefore requires at least 3000 registrants. And to have political clout requires much more. Without political clout we cannot have serious input into securing streamlined planning procedures.
2) The current world wide economic crisis weighs heavy, on two fronts. Most registrants will have suffered a large fall in the value of their savings and investment portfolios, and therefore actual investment will likely be less than original intention. And that will be even more a problem when we begin to need Turbine investment monies. To illustrate, 100 three Mw turbines would require circa £300 M. An 80% gearing would require £240M in loan stock to financial circles, and £60 M in next tranche rural and small shareholder investment. In the current economic climate this last will not be easy.
3) You are aware we did consider a full blown publicity campaign, financed by “pre- investment” funding. The above rationale suggests it unlikely to be successful, and we are not prepared to risk your capital so doing. It is a reality that the 580 to date are the cogniscenti and switched on enthusiasts. It is unlikely,in the above climate, that we can turn that into the required thousands. Pre-investors cash will be returned in due course.
True we could allocate more time. But if the situation is as we believe, then it is not a good plan to keep people hanging on in hope that we go operational. Those with sites need to be free to get on and make alternative arrangements.
We could demount to a much less ambitious scheme. But it was not our intention just to be another city based ‘Wind Power Development Company’. Anyone or group with money can do that themselves. The Wingen scheme was to be truly and uniquely in the hands of the rural sector.
What I think we have done however is raise the understanding of the potential financial gains to be had from such investment so that individuals and communities should be aware of the stakes and fight for a big share of the cake! I strongly recommend communities to come together to develop and invest in joined up local schemes. For those so minded please contact ‘Energy 4 All’ www.energy4all.co.uk with whom I have had good discussion. They have a remarkable track record in delivering tailor made community schemes.
And I hope I have raised awareness of the important place onshore wind power has in addressing the looming energy crisis facing the world. It is currently by far the most cost effective solution.
I have pushed my boat out no little to try to bring this unusual scheme to a reality. So it is hugely disappointing to find myself not delivering. My enthusiasm has not waned but the practicalities have got in the way! I still think it a splendid plan, and hope that some enthusiasts, here and there, will have a go to put together substantial local schemes on the rural/small-shareholder ownership lines pursued by ‘Wingen’. Indeed may I suggest to those of you with potential sites, that you first consider putting together, or taking part in, a local/regional joint initiative a la Wingen, before travelling the current conventional path in which the developer takes most! Indeed such activity would be the essence of plan B. Working on it!
Finally, a big thank you to my wee advisory team, registrants, all the many supporters who have taken an interest, SAOS in particular, and the journalists of papers and magazines who have given highly supportive space to the project.
Who knows, when/if the economic world settles down, a phoenix may rise from the ashes!
Kind Regards,
Maitland