By Paul Homewood
h/t George Herraghty
Nicola Sturgeon loves to boast about wind power in Scotland. She seems to forget that Scotland does not actually own any of it:
Nearly a third of Scotland’s biggest wind farms have owners with links to offshore tax havens in the Cayman Islands, Luxembourg, Guernsey and Jersey.
An investigation by The Ferret has also revealed that 39 of the largest 50 wind farms are ultimately owned outwith Scotland in England, Spain, France, Germany, Norway, China and elsewhere.
Forget the nonsense about tax havens. The simple fact is that all of Scotland’s wind farms were built with private capital, and it is private companies who actually own the assets and receive the income, even those based in Scotland.
This inevitably means that most of the subsidies paid end up going to companies abroad, and therefore little benefit to the Scottish economy. The same also applies to the rest of the UK wind industry.
Some people seem incapable of understanding this:
Labour MSP, Paul Sweeney, added: “The huge renewable energy wealth potential in Scotland is being looted from our people by international tax avoidance through these elaborate offshore ownership structures.
“Despite its vast wealth-generating potential for the country, the profits from generation are being siphoned overseas. It truly is a national scandal, and fixing it must start by asserting Scottish ownership across the whole energy sector.”
He seems to think that wind power is somehow “free”.
via NOT A LOT OF PEOPLE KNOW THAT
July 19, 2021 at 04:24AM