From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

https://notalotofpeopleknowthat.wordpress.com/

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The Herald article used the Beatrice Wind Farm as an example:

The Chinese government has a key interest in two of Scotland’s offshore wind farms, including the second biggest of Scotland’s fully operational offshore wind farms – the 84-turbine Beatrice wind farm off the Caithness coast which began operations three years ago.

Through its State-Owned Assets Supervision And Administration Commission Of China company it has control of Beatrice Wind Limited (BWL) which holds a 25% stake in the farm which made has made total profits of nearly £200m over the last three years.

BWL received dividends totalling nearly £60m between 2020 and 2022 through its shareholding. A dividend is a payment a company can make to shareholders if it has made a profit.

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Beatrice as a whole, i.e. not just the Chinese share, made £98 million profit last year, after depreciation and finance charges:

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Since it began operations in 2019, Beatrice has been given CfD subsidies of £614 million. Even in the year ended March 2022, it was still being subsidised, despite high electricity prices:

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https://find-and-update.company-information.service.gov.uk/company/SC350248/filing-history

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Currently Beatrice is paid a strike price of £175.47/MWh:

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https://www.lowcarboncontracts.uk/cfd-register/register/INV-BEA-002/

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So far in 2022/23, Beatrice has still been subsidised to the tune of £7 million, despite electricity prices spiking.

So when Scottish politicians complain about wind farm profits, they should be criticising the obscene subsidies paid out in the insane rush for renewable energy, which they were only too happy to accept in the first place!

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https://www.bbc.co.uk/news/uk-scotland-scotland-politics-20140313