Vattenfall To Create 300 Jobs In Wales?At An Annual Subsidy Of ?83000 Per Job

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Source: notalotofpeopleknowthat.wordpress.com --- Saturday, July 13, 2013
By Paul Homewood ? http://www.telegraph.co.uk/finance/newsbysector/energy/10174772/Swedish-government-to-build-one-of-largest-windfarms-in-Britain.html ? From the Telegraph:- ? State-owned energy company Vattenfall announced on Thursday it will invest ?460m in two UK projects that will supply electricity to 166,000 homes. The ?400m Pen y Cymoedd windfarm in south Wales will have a 25-year lifespan and contribute ?45m to the local economy, Vattenfall said. With a total of 76 turbines creating 228 megawatts of power, the windfarm between Neath and Aberdare will be the biggest onshore project in England and Wales. The site is expected to be completed in 2016 and will create around 300 Jobs. The project was yesterday welcomed by energy secretary Ed Davey . ? So how much will the subsidy work out at? ? Assuming 25% utilisation, 228MW works out at 500,000 MWh a year. The strike price for onshore wind is set at ?100/MWh, more than twice the market rate. So multiply 500000 MWh x ?50, and you get ?25 million pa. ? I make that a subsidy per job of ?83333 per job. ? Meanwhile, ? Peter Smink, head of Vattenfall?s Sustainanble Energy Projects unit, said: ?The UK market for investing in onshore wind power is an attractive market for Vattenfall because the government has backed its development as a crucial part of its growth agenda.? ? What he really means is that the UK market is attractive because the huge subsidies guarantee a nice fat profi ...

Source: http://notalotofpeopleknowthat.wordpress.com/2013/07/13/vattenfall-to-create-300-jobs-in-walesat-an-annual-subsidy-of-83000-per-job/

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