Renewable Energy Targets
The Government has set itself a target of generating 10% of UK electricity from renewables by 2010 – with an aspiration of 20% by 2020 – as part of its effort to dramatically reduce greenhouse gas emissions whilst enhancing energy security. As part of its contribution to this target the Welsh Assembly Government hopes to be generating 800 MW of onshore wind and 200 MW of offshore wind by 2010.
Location of Wind Farms
As a result of these targets a large number of wind farm developments are being promoted by renewable energy companies (REC) in Wales and particularly the TAN 8 areas. Click here to see if your property is in a TAN 8 area.
Wind Farm Agreements
Before promoting a site REC’s will generally offer a landowner an option agreement which gives them the right to lease the land on agreed terms at any time over a given number of years. Wind farm option and particularly lease agreements are particularly complex with a range of options available for the calculation of rent.
We specialise in advising clients on the following issues:
- Option agreement terms (ie option period, option fee, developers obligations, rights to assign etc)
- Lease terms (ie term, site development, indexation of rental payments, delayed commissioning payments, substation payments, calculation of rental payments for turbines, rent reviews, developers covenants, site decommissioning, planning bonds etc)