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Shetland windfarm - Viking Energy


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a reasonably iintelligent man told me that the SIC were planning to borrow £500 million to help finance the windfarm, because the banks won't touch it.

 

Is this true?

 

What happens if a future government stops the subsidies on windfarms and/or someone else comes along with a cheaper source of power e.g. nuclear /?

 

does that mean we are up the creek and can't pay back the loan?

 

will we be all bankrupted?

 

Is anyone out there able to confirm or deny the above?

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I have no idea, but it wouldn't surprise if they were chasing such a madcap plan. :roll:

 

If true, it poses the questions, what is being offered up as security, and who is crazy enough to put up that kind of money for them anyway?

 

Personally I think, if such a thing is the case, the councillors/trustees/whoever brokers and accepts such a deal should be joinly and personally held liable for any losses should the whole plan go belly up, not Shetland's funds.

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^^ Oops. I did mean £500 million. Honest.

 

If this is the case then I seriously hope they don't get the funding. Public opinion about covering the landscape in big white whirly things is one thing but having to borrow money without knowing for sure that it will be a success is just plain crazy.

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The only thing that can stop this 'juggernaut' now is if planning permission is denied, but the recommendation as to whether it should go ahead or not is provided to the Scottish Executive from thje SIC planning dept, and who will be steering them? The planning dept are even getting extra funding to deal with the application. Yep, it's a runaway train, probably the biggest gamble any of us will ever witness, even a space shuttle launch only costs $450 million. :wink:

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  • 2 weeks later...

Given the quantity and size / strength of roads involved to these windmills I seriously doubt that the 500 million could put that in place never mind the windmills themselves.

Especially as they've gone over budget 200 thousand with that bit of road in trondra , it just shows they aint capable of taking on such a project.

 

Any body mad enough to loan them the money to do this would have to be so retarded that , well , they couldnt. :roll:

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If S&S electric and now BT want to build wind farms on Shetland why do we have to invest anything. we could just charge them for the use of our land, no risk to us whatsoever if there is all this money to be made an we supposedly have the best wind I'm sure they will cough up.

It could be written in the contract that they would have to clear up after themselves and we will make them stick to it unlike the Sullom contract where we are now responsible to clear up when the oil is gone.

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Especially as they've gone over budget 200 thousand with that bit of road in trondra , it just shows they aint capable of taking on such a project.

 

just to give a small bit of back ground info on this..

 

The main reason about £170,000 of that £200,000, was down to the fact they came across a material that was classed as a suitable material for reusing in the construction of the trondra road.. but once it was excavated and taken out of it's compressed state and rained upon.. it became mush ( nice technical term i feel :P ) so the contractors ended up having to import suitable fill for that job. In a recent history at least of road projects in Shetland this material had not been come across. had it been known about ( as it is now ) i wouldn't expect the engineers to of classified it as reusable.

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As a contractor if you screw up a contract you should not be paid, if you are late in delivery there should be penalties. The council fails to implement these very simple rules every time they put a contract out to tender.

Once construction starts there can be no instances of wait a minute lets do this instead from the planners as this screws up any penalty clause so maybe we need to be looking at those that plan the jobs a bit closer as they seem to woefully inadequate.

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  • admin changed the title to Shetland windfarm - Viking Energy

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