From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

h/t Paul Kolk

A Wigan manufacturer of wind turbine blades has gone bust, in part because of high electricity prices, which are the direct result of expensive renewable energy.

The Telegraph has the story:

A major supplier to Britain’s green energy industry is set to close after its Japanese owner failed to clinch a rescue deal for the company and its 250 workers.

Wigan-based Electric Glass Fiber UK (EGFU), which is owned by Nippon Electric Glass (NEG), makes vital components used in wind turbines and electric cars. Its closure puts net zero supply chains under threat.

Both turbines and EVs are seen by the Government as critical to its industrial strategy amid moves to decarbonise the British economy and to build up domestic supplies of critical products at a time of tariffs, wars and mounting geopolitical rivalries.

The British operation was profitable as recently as 2022, but made losses of £3m in 2023, mounting to £12m in 2024, according to the Japanese owner, which first invested in the UK arm in 2016.

It blamed competition from Chinese imports as well as the rising cost of raw materials, in financial statements published in last year, which could only be partially passed on to customers in the form of higher prices.

The business also said rising energy prices were putting pressure on operations.

Full story here.

So much for all those green jobs promised by the Mad Milband!