Infrastructure investor John Laing is putting on hold fresh investment in renewable energy projects in Europe and Australia because of a lack of wind.
Olivier Brousse, chief executive, said: “Wind in Europe over the last 18 months has been lower than anticipated. We’ve commissioned a long-term forecast on wind in the region and it is a lower number than we thought.”
This means its windfarms are not generating as much power as expected. As a result it took a £55m hit on the value of its European windfarms.
You mean renewables calculations have been based upon errors about reality?