Energy giant BP has scrapped plans to build an offshore wind farm near the Isle of Grain after redirecting the bulk of its £5 billion renewable budget to the US, Yourmedway reports. The company said the US market was more appealing than the UK's with government incentives for green energy projects enticing them across the Atlantic. A BP spokesman said: "The best place to get a strong rate of return for wind is the US."

Energy giant BP has scrapped plans to build an offshore wind farm near the Isle of Grain after redirecting the bulk of its £5 billion renewable budget to the US, Yourmedway reports.

The company said the US market was more appealing than the UK's with government incentives for green energy projects enticing them across the Atlantic.

A BP spokesman said: "The best place to get a strong rate of return for wind is the US."

The decision has been criticised by Kent Green Party, which said BP was making "a historic mistake".

Party spokesman Steve Dawe said: "I think BP will live to regret their decision - it's a historic mistake as the UK has so much potential for wind energy.

"I'm sure other companies will pick up this investment. When Shell pulled out of the London Array project off Thanet other companies moved in immediately.

"Despite the global financial crisis, the renewable energy industry... [continue via Web link]

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