Monday 4 January 2016

UK offshore wind to generate £5.9bn by 2021

UK offshore wind to generate £5.9bn by 2021

Offshore wind projects in the UK in 2016 will generate £5.9 billion of investment in the next five years.

That’s according to RenewableUK which stated more than 4.6GW of capacity will be under construction this year.

On the other hand, it added there’s an uncertain future for onshore wind projects in the next few years.

The sector is under “severe threat” as subsidies for onshore wind projects will be scrapped from April this year.

It is set to install at least 1.2GW of new capacity with more than 50 projects going fully operational in 2016, it stated.

That’s enough to power more than 660,000 homes.

They will add £913 million of investment to the country’s economy during development and construction.

RenewableUK’s Deputy Chief Executive Maf Smith said: “The UK’s wind energy infrastructure pipeline remains healthy in the immediate term, continuing to bring billions of pounds of investment to British companies across the supply chain and supporting 35,000 jobs.

“No government would want to jeopardise the successful future of such an industry. The government understands this and has set out a long term framework for offshore wind, allowing industry to plan ahead. This means we can attract investment, bring down costs and secure the UK supply chain. This needs to be replicated across the wider renewables sector.”

Written by

Bruna Pinhoni

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