Wokingham’s member of parliament Sir John Redwood has again taken aim at Wokingham Borough Council, suggesting it should focus on fixing potholes rather than spending £25 million on a solar farm in Barkham.
Writing on his blog earlier this week, Sir John said: “Wokingham Borough, under the Lib Dems, pleads poverty, cuts crucial services like refuse collection and street maintenance, yet now says it can afford £25 million to buy itself a solar farm.
“When the Borough first looked at such a plan, the capital cost was £20 million. So it has gone up by 25% since then. Interest rates then were a lot lower. That meant the scheme then could be worth the risks.
“Next, the Council was told they could not connect to the grid until well into the next decade, undermining the scheme completely.
“Today, the Lib Dems want to revive it even though the risks have increased considerably.
“The future interest charges on the borrowing have leapt up to £16.44 million, and the repayments are increased with the higher capital costs.
“The only things taxpayers can be sure about is they will be paying back the money spent, and the interest on it, for many years.
“It is quite possible costs would escalate further during build, adding to the taxpayers burden.
“The Council has made up for the big escalation in costs by claiming they will get more money for the electricity they will be selling if all goes well with the scheme.
“That may or may not be true.
“Power prices have been very volatile in recent years and can go down as well as up. They have been falling over the last year.
“They now think there will be a grid connection in 2026.
“Is that watertight and guaranteed?
“There is now an Electricity Generator Levy on solar for larger players. That tax might be extended to others.
“Councillors should be careful before spending £25 million they need to borrow. “We can be sure we will be lumbered with the debt, but a lot has to go right to make profits from 2026, assuming they can sell the power from that date.
“The Council should concentrate on mending the potholes, re-opening the roads and restoring a good refuse system instead of finding more ways to plunge Council taxpayers more into collective debt.
In response David Cornish, ward member for Finchampstead South which covers the planned solar farm in Barkham, and Wokingham Borough Council’s executive member for business and economic development, said: “I recall that our MP was a keen supporter of Liz Truss, so he will understand our reluctance to take economic advice from him.
“The new solar farm is being built on council-owned land, and is a tremendous use for this valuable asset.
“Latest figures show the farm could generate more than £68 million in profit over its 25-year life span, after the cost of delivering and running it are taken into account.
“This means an income of circa £2.74 million a year, which can be used to help fund essential services and help tackle the ongoing financial pressures the council faces.
“Not only is it great for Wokingham, but it helps to make the whole country more energy self-sufficient, something which most politicians have been calling for.
“The council is struggling with years of government underfunding, and securing long term income streams like this is critical to our future.
“We’ve taken a cautious approach to forecasting future energy prices, but even with this, the latest figures show that the solar farm is an excellent investment for our community.”
The business case for the Barkham Solar Farm was initially approved by the Wokingham Borough’s executive committee and full council in 2021.
Conservatives lost control of the council at the elections in May 2022.
