Climate Changed
Britain Has It 'Totally Wrong' on Approach to Energy, Ineos Says
- Hinkley Point nuclear plant unlikely to be helpful for U.K.
- Solar energy seen as a better investment than wind energy
Tom Crotty, director at Ineos Group, discusses how British companies are preparing for Brexit, the outlook for his company and where he sees opportunity. He speaks on 'Bloomberg Markets: European Open.' (Source: Bloomberg)
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Britain’s investment in the Hinkley Point nuclear power plant and its bias toward wind power over solar is wrong for the country, according to Britain’s largest closely held company.
Hinkley is a “disaster” that’s “doomed to failure” because it’s using unproven technology on too large a scale, according to Tom Crotty, a director at chemical maker Ineos AG. The U.K. has also over-committed to wind power and should be investing more in solar energy, he said.