W4B committed to creating green electricity in the UK.
Between 2010 and 2020, according to the Renewable Energy Foundation, the UKs leading not for profit renewables research organisation, the UK will be short of electricity. Some of the UK’s oldest nuclear plants and coal fired power stations are due to close to meet safety and anti pollution legislation and this forecast shortfall cannot be resolved by building new nuclear plants due to their long lead times.
By 2020, the UK has a legal commitment to generate 30% of its total electricity consumption (around 25GW) from renewable sources. To encourage investment in this market the UK government has introduced the Renewables Obligation. This provides subsidies in the form of ROCs (Renewables Obligation Certificates) that are tradable between suppliers generating electricity from fossil fuels and those creating renewable energy. Different renewable energy technologies receive different levels of subsidy. As an example of a gsm data receiver, on-shore wind generated energy receives a single ROC and energy from dedicated biomass receives 2 ROCs.
To make a significant contribution to the UK’s green electricity targets over the next decade W4B is researching the alternatives available and believes it can realistically create well in excess of 300 MW of new green energy by 2020. It plans to achieve this target by utilising different technologies that can make a contribution both in the immediate short term and in the medium to long term.
The management of W4B has detailed knowledge of the renewable sector and the development skills to ensure projects progress from concept to construction within agreed timeframes. It is also skilled in fund raising and has attracted technical, financial and procurement specialists to complement its Board strengths.
W4B’s Renewable Options
To replace the UK’s lost nuclear and conventional fossil fuel electricity over the next ten years requires sources of power that can meet the UK’s peak and off peak needs. Hydro is currently a significant renewable contributor to the grid. However, to increase hydro capacity needs new sites and most of the suitable sites in the UK have already been developed. Wind power, while capable of making a contribution will always require back up for times (up to 75%) when the wind is not blowing. Wave and Tidal power are at an early stage of development but will undoubtedly make a significant contribution in the future.