September 8th, 2009
Vestas v Airbus – Money well spent?
Vestas is considered to be number 1 in modern energy, with 20% of market share and more than 38,000 wind turbines worldwide. So why did our government allow the closure of Vestas in the Isle of Wight, our only UK turbine manufacturer? What happened to their ‘green promise’ that supported the installation of 10,000 wind turbines in the UK by 2020?
To add insult to injury the government managed to find £340m to bail out Airbus, the company who likes to promote itself as an ‘environmentally benign organisation’. Currently Airbus are advertising their plan to cut fuel emissions by 2%.
2% in a rapidly growing industry, about to be responsible for potentially catastrophic fuel emissions is of what use exactly? In addition to this and very interestingly, Airbus’s Chief Executive claimed a government bail-out was not necessary and what was actually required was a ‘functioning financial system’ to be set in place.