WARNINGS that the potential for financing wind power projects are grim have been challenged by a leading Scottish businessman.

Dr Maitland Mackie, chairman of ice cream firm Mackie's, has been running three mid-sized turbines on his dairy farm in Aberdeenshire for almost five years and said they were producing enough energy to power his business more than twice over, leaving a surplus which he sells back to the National Grid.

He challenged predictions by Peter Atherton, head of European utility research at investment firm Citigroup, who told MSPs yesterday that the equity market was "essentially closed" to renewables investors.

Mr Atherton, who said he was speaking in a personal capacity, said this would have an impact on the Scottish Government's target of producing 100% of the country's electricity by 2020.