Fair wind blows for Bristol renewable energy company
Wind Prospect, one of the companies behind the world's first large scale wave farm off the coast of Cornwall, is the latest high profile company in the region to receive Beacon status.
Bristol-based Wind Prospect is a pioneer in the development of wind energy and is in an enviable position now that the European Commission has presented its draft renewable energy targets. The UK has been set the ambitious target of producing 15 per cent of its total energy from renewables by 2020 - a target that will stimulate massive investment in new renewable energy generation.
Launched in the late 1990s by co-founders Colin Palmer and Euan Cameron, the company has so far been responsible for the creation of over 30 wind farms. These are now set to be complimented, by new sources of renewable energy. Wind Prospect's marine subsidiary, 'Ocean Prospect' is developing a wave project known as WestWave. The venture is being developed in partnership with the German energy firm Eon and will be linked to the WaveHub, which is to be located off the Cornish coast. It is set to provide electricity for 3,000 homes when operational in 2009.
The work that Wind Prospect is doing to turn the tide of climate change and its distinctive management style has seen the company recognised by Beacon South West, an initiative of the South West of England Regional Development Agency (RDA). Beacon brings together the region's most forward-thinking companies to cultivate excellence among businesses in the region.
Says Colin Palmer, co-founder of Wind Prospect: "Renewable energy is really coming of age through projects such as WestWave, and I firmly believe that it will be one of the ways in which we can tackle head on the massive problem of global warming."
According to the latest available figures, 74,000 megawatts of electricity is being generated through wind power globally, enough to meet the needs of approximately 25 million households.
And Colin believes their industry has only just scratched the surface: "It is technically possible for the UK to become fully sustainable in terms of its energy use at some point in the future. Wind power alone has the potential to generate as much energy as nuclear."
Wind Prospect has grown substantially in recent years and today employs over 110 people. It currently turns over in excess of £5m, and was recently listed in the Sunday Times' Fast Track Top 100 Fastest Growing Companies in the UK.
Commenting on his membership of Beacon South West, Colin added: "Beacon South West is all about learning from the best companies in the region. I am looking forward to using its network to benchmark our progress to date, and wherever possible, putting that learning into action within our own business."
Wind Prospect doesn't just operate in the UK. It also boasts a network of offices around the world, strategically positioned to identify new opportunities. Explains Colin: "With renewable energy the potential is limitless. Part of my job is identifying opportunities, wherever they may be in the world, and seizing them."
Adds Sue Baker, director of Beacon South West: "Our region is blessed with an abundance of sustainable energy sources such as wind and wave power. Companies like Wind Prospect are enabling us all to benefit from it and I believe their addition to the Beacon network will be a real bonus to our members."
