The Government of United Kingdom is anticipating to reduce the public spending and to slash the inflating budget; this slash is expected to be performed on the solar energy sectors. If the government cut downs the investment towards the solar energy, this will lead to a major setback in the emerging low-carbon technology in the Britain. The low-carbon technology in the Britain is already moving at the slower pace than the Green technologies, the Green technologies are one of the fast growing and emerging technology in the Europe. The general manager of the solar cells producer Sharp Solar U.K Andrew Lee said that, if the government reduces the tariffs at this vital period, it will be ludicrous since many multinational companies are investing in the solar energy projects and more jobs are created via this project.
Japan based Sharp, has invested nearly $ 47.93 million in the United Kingdom solar company Wrexham, sited near the Liverpool, the aim of the Sharp was to twofold its manufacturing efficiency but currently it is worried by the government plan towards the cutting down in its multi-billion pound solar energy investment. The feed-in-tariff was introduced by the previous labor government to encourage small scale renewable energy and power projects, the feed-in-tariff scheme received more funding by the state government for solar power plants.
One of the largest energy producers in the United Kingdom the BP Plc declared that, it is not ready to sell its Vietnam gas field stocks to the India’s Oil and Natural Gas Corporation, since it is looking forward to transfer its stocks to its subsidiary associate. Robert Dudley, the new Chief Executive Officer of the BP, made a visit to India to meet the Reliance Industries head Mukesh Ambani, Tata Power chairman Ratan Tata and the Oil Minister of India, Murli Deora in Mumbai. Robert Dudley discussed with Mukesh Ambani and Ratan Tata about the currently working projects in the BP with these two companies.
Robert Dudley declared that it BP will be joining hands with Reliance Industries Limited in an NELP Deep Sea Block, these two companies are looking forward to embark on the seismic service and the BP will be joining hands with Tata Power to set up a solar project in Bangalore. The interest showed by the Oil and Natural Gas Corporation of India for purchasing the stocks of the BP’s Vietnam gas project, the final decisions are not been made, and if the decision is taken BP will transfer it funds to a subsidiary associate.