GreenAmps in trouble

BANK DEALT HEAVY BLOW TO WIND TURBINE PLANS 10:30 - 08 May 2006
Plans to put wind turbines across Gloucestershire have stalled after the company behind the scheme was denied a crucial bank loan. Energy firm Green Amps wants to put 28 turbines on nine sites in the Cotswolds.Planning applications for the turbines were supposed to have been submitted by January.
But Nick Brown, chief executive of Green Amps, says HSBC put his business in jeopardy by withdrawing its offer of a loan.The search for alternative finance has delayed the scheme by at least two months.
Mr Brown, who wanted the turbines up by summer, is considering legal action against HSBC.He said the loan, part of a government scheme, was originally granted but then the Department of Trade and Industry ruled Green Amps was ineligible.
The DTI later changed its mind but by then HSBC had withdrawn its support.Mr Brown said: "By the time we went back to the bank, we were told we couldn't have the money, even though we had the DTI's support. It put the whole business in jeopardy.
Mr Brown is hoping a venture capital firm will save his company."Fortunately, there was a surge in energy stocks and that attracted the interest of a venture capital firm. If not for that, we'd be at risk of going out of business."Green Amps hopes to lodge an application with Cotswold District Council by the end of May.
It has made an official complaint to the DTI as part of a submission to the Government's energy review.It is the latest controversy to dog a scheme that has drawn widespread criticism from residents.Campaigners say the huge wind turbines will blight the Cotswold countryside.Farmers at three of the sites have pulled out because of the strength of opposition from neighbours.
In December a ballot in Brockhampton found 65 per cent of residents opposed the idea.
Green Amps wants to put 14 pairs of turbines in Twyning, Somerford Keynes, Fairford, Hardwicke, Moreton-in-Marsh, Bourton-on-the-Water, Upper Rissington, Coln St-Aldwyns, Stinchcombe, Brockhampton and Longborough.