Wind power Ask Bob Dylan

Does the boom in wind power make sense? It’s clear that it appeals to developers, as illustrated by Shell’s dual announcements this month that it planned to build an £830m wind farm in the Thames Estuary and a £133m off of the Netherlands’ coast. But the economics of wind are still fragile. Investments can generate substantial, albeit variable returns due to the variability of wind itself. Estimated returns for turnkey projects are 9%-12%. For projects still to receive planning permission, which...