mr president the eib is providing up to eur one billion for the construction of wind turbines and other renewable energy projects in the uk
while this fits neatly within the strategy to fight climate change i am alarmed that the current criteria governing eib funding lack transparency and accountability when it comes to the examination and due diligence of these projects
eur six billion has been provided for wind farm developments across the eu according to mr maystadt but the eib simply accepts the applications for funding from the governments concerned without scrutiny
i do not think that is good enough
renewable energy companies in the uk claim that their turbines have a load factor of thirty
in fact over the whole of last year their load factor was only twenty-one
they do not work when the weather is coldest and demand for electricity is at its peak
they are not economically viable and they will double or treble electricity prices for consumers while failing to cut co emissions
this is an unfolding financial scandal and the eib should stop funding wind energy
