Subsidies benefit offshore wind farm operators

Operators of offshore wind farms in the North Sea are making millions of euros in profit because they generate two-thirds of their turnover through subsidies, De Gazet van Antwerpen and Het Belang van Limburg report. The accounts of Belwind – the largest wind farm operator – show that, out of a turnover of €90.5 million between April 1, 2011 and March 31, 2012, only one-third came through the sale of electricity. The rest consisted of ‘green certificate’ subsidies. Energy regulator CREG estimates the cost of the seven wind farm parks to the taxpayer at €14 billion over the next 20 years. Energy minister Melchior Wathelet intends to review the green certificate subsidy system.