ScottishPower Renewables today welcomed Chancellor Alistair Darling’s commitment in this week’s pre-budget speech to extend the Renewables Obligation (RO) to at least 2037.
Welcoming the Chancellor’s announcement ScottishPower Renewables Managing Director, Keith Anderson, said;
“I would like to thank the Chancellor for listening to the industry and taking this proactive move that clearly demonstrates the Government’s continuing support to the renewable sector.
“This commitment will greatly strengthen investor confidence in UK renewable industry. It is also a strong signal for developers to investigate projects, especially those offshore, that will now be fully covered by the incentive mechanism – ensuring a sufficient return on their investment.
“As the biggest onshore generator and developer of wind energy in the UK we are now looking forward to working with the government on further consultations to discuss the future of the Renewables Obligation.”
The Renewables Obligation is a financial incentive mechanism designed to encourage deployment of renewable energy capacity in the UK, introduced in 2002.
Media Information – Simon McMillan 0141 566 4875/ 07753 622 257