Wednesday, 13 April 2011

Solar entrepreneurs to get compensation

The Government is poised to give 'solar entrepreneurs' millions of pounds in compensation for spending their own money on solar farm projects which have had to be cancelled as a result of a policy u-turn.

It is understood that some potential 'solar farmers' have already been in talks with officials from the Department of Energy and Climate Change.

A DECC official said that the issue of compensation was being discussed, but no final decision had been made.

The revelation that the Government is looking at compensation schemes comes as the Renewable Energy Association reveals the results of an exclusive survey of its members for This is Money's sister title, Financial Mail.

The survey shows that dozens of entrepreneurs have lost nearly three million pounds on preparing for projects that have now had to be cancelled because of the change in Government policy.

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