Back in March 2017 GFG Alliance (Liberty House and SIMEC) announced a £450 million investment in the Lochaber area subsequent to buying the Fort William aluminium complex and estate lands from Rio Tinto in a £330 million deal in December. This will be the UK’s last aluminium smelter putting it in a very good place to compete to produce car parts for the wider UK and European car manufacturers. Of course, India’s car ownership growth is the fastest in the world at 7.64% or 2.54 million vehicles in 2016 and is expected to grow by 775% to 2040 so we can expect business there too!
Now the owners plan a ‘huge’ £150 million wind-farm to power the alloy wheel plant but also the company’s steel mills in Lanarkshire. The company is also offering shared-ownership opportunities and thus cheaper energy costs to the local community too. The acceptable face of capitalism? Not a phrase I could have typed in my younger days.
The report does not quantify the size and power of the wind-farm but merely uses the word ‘huge’. I found this:
‘The costs for a utility scale wind turbine range from about $1.3 million to $2.2 million per MWh of nameplate capacity installed. Most of the commercial-scale turbines installed today are 2 MWh in size and cost roughly $3-$4 million installed.’
These seem to be 2012 figures.
The pound is trading at about £1 to $1.3 so that’s a $195 million dollar windfarm with about 50 turbines generating around 100 MWh? Neart na Goithe off Fife is only 45MWh so that would be huge unless of course my arithmetic and/or assumptions are flawed. Once more, I await correction with a calm and modest mind,