To all trustees of Shetland Charitable Trust
A point from Dr Susan Bowie in the Shetland Times chastises Sustainable Shetland for delaying investment in Viking Energy.
Les Lowes once again bangs the Viking Energy drum.
Surely they must be aware that ROC subsidies are about to be phased out. If indeed the ROC subsides are cut to nothing and OFGEM tariffs remain high, as is now almost a certainty, Viking Energy could, and in all probability, will fail financially, costing Shetland and the trust dear.
We should thank Sustainable Shetland for the delays it may have created in preventing VE from pillaging trust funds with impunity. However, the majority of the delays to this project were own goals by VE planers in originally overlooking issues such as turbines on deep peat and turbines in the flight path to Scatsta airport.
Only £4.5 million lost to date, how much more would should we see go from trust funds before Viking final folds?
Would it not be prudent to wait until after the judicial review decision and after Osborne’s subsidy cuts are fully calculated into the project’s financial modelling?
Only a fool would risk further trust funds until all options and eventualities are known. Why commit at this time?