Onshore wind farm decision will spook investors
David Hunt, managing partner of specialist renewable energy recruiter Hyperion Executive Search, said, “This will have a large impact on businesses and individuals involved in and employed by the onshore wind industry, but has larger knock on effects.
“Investors above all else value certainty. Where Government policy is subject to short term change investors get spooked and take their money elsewhere.
“This could have a big impact on investment into solar, and all other forms of clean energy.
“This decision has real and tangible effects on jobs and growth in the UK economy. Last year renewable energy jobs rose 9% against a UK wide rise of 1.2%, but sustaining such growth will be jeopardised by today’s announcement.”
Hunt, who is also chair of the REA’s on-site renewables group, said, “We have been speaking to a major renewable developer about recruiting a head of onshore wind and subsequent team, but in light of this announcement I doubt that will proceed.
“Even if it does, it will almost certainly be based and focussed overseas. We live in a global economy and we have numerous examples of manufacturers and developers of solar and renewable technologies setting up and focussing investment overseas, away from the uncertainty of the UK.
“A number of roles we are now recruiting are for UK businesses but for roles in Africa, the Middle East and Americas. This decision is likely to benefit other countries at the expense of the UK.”
Hunt added, “This is a political decision which flies in the face of common sense and public opinion. It will provide a boost to the oil, gas and fracking community and goes completely against the Government’s own polling which showed 74% in favour of onshore wind and only 24% in favour of fracking.
“Clean energy brings jobs, investment, energy security and innovation to the UK and, in case the Government has forgotten, helps us meet our climate change commitments.”