Green backing

I noted with regret that Scottish-based SeaEnergy has been forced to put its offshore wind farm subsidiary up for sale after failing to raise sufficient funding from investors (your report, 19 June).

SeaEnergy's situation is not unique; attempts by developers across Scotland to pursue green schemes such as wind farms and new marine renewable energy technology are significantly hampered by lack of funding.

The public sector has signalled its support for renewable energy technologies but this alone is not enough. If we are to realise the full potential of renewable energy, traditional investors must be encouraged to release funding and provide developers with greater access to capital.

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Now is the time for private funders to look beyond the initial capital expenditure and recognise the long-term benefit in investing in the future of renewable energy, before lack of funding forces further companies to abandon their green vision.


Canning Street