Wind-powered stations to reach profitability by 2017

Wind-powered stations are likely to be profitable in the UK by 2017, according to the chief executive of Siemens Renewable Energy.

By Rowena MasonPublished: 5:55PM BST 20 Sep 2009
The energy source is currently heavily subsidised by the Government as it rushes to reduce carbon dioxide emissions and produce 20pc of all power from renewables by 2020 in line with European climate change targets.
However, Rene Umlauft, chief executive of the Siemens division, believes that the rising price of gas and other fossil fuels will make wind farms commercially viable within eight years.

Wind power is already operating without subsidies in New Zealand, where the weather conditions make windmills more efficient than in other parts of the world.
The wind is also strong enough in Mexico and Brazil to make wind power near profitable in these countries over the next year.
Mr Umlauft's forecast comes as Siemens, the German wind-turbine maker, and Dong Energy, the Danish wind-farm owner, opened the world's largest offshore wind farm off the coast of Denmark last Thursday.
The Horns Rev 2 farm, which has 91 turbines and can generate 209 megawatts of electricity, will increase Denmark's wind power to more than 20pc of the country's total energy consumption.
But this will be vastly overshadowed when the London Array wind farm is built in the Thames Estuary off the coast of Kent with 341 turbines.
The project, funded by Dong, E.ON and Masdar, an Abu Dhabi company, could be ready to generate power for the London 2012 Olympics if it is given final approval on schedule later this year.
Siemens is also considering whether to open a new factory manufacturing turbines in the UK following the closure of a plant by Vestas, the Danish turbine maker, on the Isle of Wight earlier this year.
It has shortlisted locations in Germany, Britain and Denmark, as these countries have the largest order books for offshore wind farms in Europe.