Green power in the UK

The British government’s goal is that 10% of its power will come from renewable energy sources by 2010, primarily wind farms. This, it estimates, will require an investment approaching $16 billion in addition to increased rate-payer bills to continue paying for the operation of these new sources of energy. The Sunday Times reports that the UK’s energy minister, Stephen Timms, has invited 150 of the UK’s largest financiers from the Square Mile, including bankers, private-equity investors and institutional shareholders to a seminar this next week, hoping to convince them of the wisdom of putting their capital into renewable energy sources.