Business energy prices could benefit from multinational wind farm investment - 26/10/2009
Homes and businesses keen to switch energy companies in pursuit of cleaner sources could be encouraged by news that multinational firms may invest in offshore UK wind farm projects.
The Bank of America Merrill Lynch said businesses such as Ikea, Microsoft, Google and Wal-Mart are all considering investment in offshore projects planned around the UK coastline, as Britain is viewed as a world-leader in terms of wind power development, reports the Times.
Investment in wind farms offers the opportunity for businesses to present a greener image to their customers and to reduce both operating costs and carbon emissions.
According to the paper, John Lynch, head of power and utilities at Bank of America Merrill Lynch, told a CBI energy conference recently: "This is a technology that the UK is leading in and these companies are looking at ways to get involved because it meets their own corporate social responsibility objectives."
He added none of these major companies have yet made a firm commitment, but the interest is there to compare energy sources.
The government recently announced plans to escalate the development of offshore wind farms.
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