Friday 8 September 2017

British firms secure almost half of UK’s offshore deals

 

Almost half (48%) of the investment in planning, building and running offshore wind projects has been awarded to British companies.

That’s a 5% increase from the previous report published in 2015, according to latest figures from RenewableUK.

That means the sector has almost hit its target of sourcing 50% of its work in Britain by 2020.

The report, which analysed data supplied by eight major UK offshore wind farms reaching final investment decisions between 2010 and 2015, reveals UK content has grown at every stage of a wind farm’s lifecycle.

Around 73% of work was awarded locally in the development stage, which includes the major licensing, planning and surveying work.

It adds the sector is investing £11.5 billion in the UK economy over the next four years – greater than the spending in the aviation, broadband and mobile network infrastructure.