Businessman admits wind turbine will earn him £80,000-a-year as he defends plans against huge local opposition Yacht broker Harry Standley, 70, plans to erect a 150ft turbine on Yew Tree Farm in Laxfield, Suffolk He admits the turbine - labelled a 'monstrosity' by locals - will earn him £80,000-a-year The pensioner has already erected two smaller turbines on the 270-acre farm His proposal will go before Mid Suffolk District Council by the end of the year A wealthy businessman has admitted he will make £80,000 a year from erecting a 150ft wind turbine - despite opposition from neighbours. Yacht broker Harry Standley hopes to increase his income by putting up the £500,000 turbine, which locals have labelled a "monstrosity." It would join two smaller turbines already standing on his 270-acre farm in Laxfield, Suffolk. The proposed 150ft wind turbine (right), pictured next to one of Mr Standley's existing smaller ones (left). He has admitted he will make £80,000-a-year from erecting the turbine on Yew Tree Farm in Laxfield, Suffolk The 70-year-old claims he is a strong believer in renewable energy and wants to help cut the country's use of fossil fuels. But his plan has angered residents, including former BBC royal correspondent Michael Cole, who have accused him of seeking to make money rather than save the planet. Mr Standley said: "It's my land and I am simply reacting to the Government's renewable energy scheme - if people don't then there will be a huge energy gap." The proposed turbine (left) will stand at a towering 150ft - taller than the village church. Ex-BBC Royal correspondent Michael Cole, who lives near Mr Standley, has spoken out against the businessman's plans Mr Cole, who can already see one wind turbine from the bottom of his driveway in Suffolk (pictured), accused Mr Standley of seeking to make money rather than save the planet The firm that will supply Mr Standley's turbine, Mosscliff Environmental, said some owners could net as much as £100,000 a year from a single 250kW turbine that fed power directly into the National Grid. Spokesman Jack Abbott said: "We would expect Mr Standley's installation to generate him £80,000 a year. The Government is trying to incentivise landowners like Mr Standley to invest in renewable energy. Mr Standley has already erected two smaller wind turbines (above) on his 270-acre farm. He hopes to increase his income by putting up the new £500,000 turbine The site of the proposed turbine. Mr Standley claims it will be 'totally compliant with all the necessary regulations' and will have no effect on the surrounding environment He is helping to kick-start the renewable energy industry in this country which will in the long run help to reduce energy bills for all. Former BBC man Michael Cole, who was also communications director for Harrods, is one of the neighbours against the proposal. Locals Mark Tinney (right) and Tom Knox (left) have spoken out against Mr Standley's plans, labelling the proposed turbine a 'monstrosity' He said: "This thing will be as high as the church tower and it has got nothing at all to do with green energy, reducing emissions or saving the planet - it is just about money. Mr Standley will make money from selling his expensive power and we will all indirectly contribute towards his income by paying green charges on our electricity bills. The Government accept that wind turbines are a blight, because they grant council tax discounts to people unfortunate enough to own properties near wind turbines. Local farrier Tom Knox added: "I have lived here for more than half a century ... there is nowhere else like it in the world but now my house will be in direct sight of these ugly monstrosities." Wind turbine owners get paid for the electricity generated even if they use it themselves. Any excess is exported to the local grid - which they are also paid for. Tariffs reward turbine owners with around 22p for each kWh of electricity generated and each kWh exported. A well-sited 6kW turbine can generate around 10,000kWh a year, but Mr Standley's is far bigger. Yesterday he defended his plans on environmental grounds, saying: "I believe strongly in renewable energy - we just cannot go on using fossil fuels because it is unsustainable and they pump CO2 into the air ... I have been publicly vilified over my plan and there is a definite Nimby factor at work. Laxfield Parish Council voted six to one against the application to erect the turbine, which is expected to go before Mid Suffolk District Council before the end of the year.