Wind Farms Not Profitable Until 2017
The chief executive of Siemens Renewable Energy has said that wind farms will not be profitable until 2017, reports telegraph.co.uk. At the moment, wind power is subsidised by the Government but the chief executive of Siemens said that as the price of coal, gas and oil rises over the next few years, wind farms will become profitable in their own right.
Wind power is profitable in New Zealand now, but the wind conditions there make wind turbines more efficient than elsewhere. They are almost profitable in Mexico and Brazil.
As reported by Utility Exchange last week, Dong Energy opened the world’s largest wind farm off the coast of Denmark last week. However, if the London Array wind farm is given final approval later in the year, this will dwarf the Dong Energy wind farm. It’ll consist of 341 turbines in the Thames Estuary and it’s hoped the project, funded by Dong, E.ON and Masdar will generate electricity for the 2012 Olympics.
Siemens may consider building wind turbines in the UK after Vestas closed its plant on the Isle of Wight. It’s considering various locations in Germany, Britain and Denmark.