EVERYONE has heard the expression “he’s got more money than he knows what to do with”. Well, it appears that anti-wind farm campaigner Donald Trump has so much of it he does not know what it is doing.
It has emerged that the billionaire owns shares in a US wind power company.
His stake in NextEra Energy became public as a result of his bid to become the next Republican president of the United States. Trump has fought a long battle against plans for an 11-turbine wind farm at Aberdeen Bay, in Menie, Aberdeenshire, which he claimed would spoil the view from his Trump International Golf Links.
Only last month he accused former First Minister Alex Salmond of doing Scotland a “tremendous disservice” by allowing wind farms to be built in Scotland.
NextEra, which is based in Florida, claims to be one of the world’s largest generators of wind power, boasting more than 100 wind farms in American states and Canada. It generates 11,300 net megawatts – 58 per cent of the company’s total generation. It claims that in 2014 its products displaced nearly 27 million tons of carbon dioxide, almost 52,000 tons of sulphur dioxide and more than 33,000 tons of nitrogen oxide which would otherwise have been released into the atmosphere from other generating sources.
Trump’s involvement was NextEra was revealed in a financial disclosure to the Federal Election Commission, which indicates that his shares are worth between $51,000 and $100,000 (£32,000-£64,000), with dividends of up to $2,500 (£1,600).
A spokesman for the 69-year-old said: “The report clearly states that ‘Deutsche Asset & Wealth Management A/C 1 Brokerage Acct Holdings’ manages a portion of Mr Trump’s money and independently makes investments on his behalf.
“These types of investments and the specific stocks chosen by Deutsche are done without Mr Trump’s knowledge or involvement.” The Scottish Government approved plans for the Aberdeen Bay development by Vattenfall in 2013, but Trump argued the decision was illegal and stopped work at his golf links.
Despite losing that stage of his legal battle, he later decided to continue work on his £5m clubhouse. Court of Session judges rejected his claim in June, but Trump has said he will take his battle to the UK’s Supreme Court.
A spokesperson for the SNP said: “Investment in renewable energy is good for jobs, the economy and the environment and it is good to see Mr Trump now appears to recognise that extraordinary potential.”
Lang Banks, director of environmental group WWF Scotland, said: “Trump probably spat out his morning coffee when he read the newspaper to discover that, despite his own views, he was investing in wind farms. However, those looking after his investments have clearly realised what Trump himself hasn’t – namely that that wind power not only works, but is a sound investment for the future.
“The sooner he realises this and stops trying to hold back Scotland’s clean energy ambitions the better.”
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