Green-energy giant Infinis suffered a near 8% slide in the value of its shares after it confirmed the chancellor’s decision to scrap climate change tax breaks for renewables generators will cost it £7million by March. In Wednesday’s Budget, Chancellor George Osborne said the Climate Change Levy (CCL) exemption, which allows businesses not to pay the environmental tax levied on energy if it has come from renewable power, would be removed in August. The move continues the UK Government’s “crusade” to scale back financial support for renewables, which has not been perturbed by the approach of United Nations climate change talks in Paris later this year.
Norway's oil and gas firm Statoil plans to take the final investment decision in September on building a floating wind farm off the coast of Scotland, set to be the first of its kind in the world, a spokesman for the company said on Tuesday. Statoil, which has run a single floating offshore turbine for several years in Norway, is now planning to build five floating turbines, each with 6 megawatt capacity, off Aberdeen in an area where the water depth is around 100 metres. With development areas for foundation-fixed offshore turbines limited to shallow seas with depths up to 50 metres, and with some countries experiencing strong opposition against the visual impact of turbines on the land, floating offshore is seen as the next major growth area for the wind industry.
The Met Office has launched a weather forecasting tool aimed at the wind energy sector.