By Clive Wakely. Despite government reassurances that they intend investing heavily in the development of a British green energy sector one entrepreneurial company cannot even get a loan from a government controlled bank, despite backing from the Palace.
A British-based company that has only recently agreed a deal with representatives of Her Majesty The Queen to provide hydroelectric “green” electricity to power Windsor Castle, is reported as being unable to find a British bank willing to lend it the finance to build the turbines required for the project.
This despite billions of pounds of taxpayers’ money having gone to bail out British banks and the alleged commitment of the Coalition government to developing a multi-billion pound British green energy industry.
As a consequence the entrepreneurial company concerned has little choice other than to purchase turbines from the Netherlands, Germany or Denmark.
The turbines, which are to be sited in the Thames at Ronmey Weir weigh 40 tons and cost £700,000 each.
A spokesman for the enterprise said: “I have got a local company that would be willing to build the turbines, but we are finding it difficult to find the financial support needed to build this Archimedes-type pump for the first time.”
It has also been revealed that the company is also negotiating with a peer of the realm over the possibility of installing similar turbines in the river Derwent, using the electricity generated to power his stately home in Derbyshire
The company is reported as having ambitious plans to utilize water driven turbines on both the rivers Avon and Thames to provide electricity both to nearby businesses and private houses, thus enabling them to move away from gas or coal-fired electricity generation.
Understandably proponents of green energy are unimpressed by, so far empty, government pronouncements concerning the development of a significant British green energy industry.
The news that state controlled banks, these being banks in which the Government has majority ownership, are refusing to provide loans, has further damaged the Cameron led regime’s credibility.
To make matters worse it is further reported that it took four years for the company to get agreement from the government’s Environment Agency to lease it a site adjacent to the Thames.
The news that the project is to go ahead, albeit with Dutch, German or Danish built turbines, has met with much approval from environmental groups.
A spokesman for Friends of the Earth, for example, said: “This is exciting news – we urgently need to develop clean and safe energy to tackle climate change and build a greener economy and it’s great that the royal family is showing leadership in doing so.”
That said, isn’t it about time that the government began practicing what it preaches, that is – actually invested in the development of a British green energy industry?
Furthermore, how on earth can a government that squanders millions of pounds each and every day on projects such as the “liberation” of Libya and Afghanistan justify their parsimony when called upon to invest in Britain and British industry?
This being particularly pertinent when the British banks it has bailed out at taxpayers’ expense, have used their billion pound bailouts to boost their reserves, rather than loaned it out to industry and commerce as intended, to stimulate economic activity.
* It has been reported that the Queen has taken delivery of two huge hydroelectric turbines that will help provide Windsor Castle’s energy needs.
The 40-tonne turbines, utilising an Archimedes’ screw principle, were installed late last week at Romney Weir on the River Thames.
The turbines were manufactured by a Dutch company at a cost of £700,000 each.
This is a purchase that should and could, have gone to a British manufacturer – but did not due to Government apathy.
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