UK’s offshore wind sector boosted by £100m programme

A new £100m programme has been launched to boost the growth of the UK’s offshore wind sector which will, in turn, benefit businesses.

The 10-year initiative, the Offshore Wind Growth Partnership (OWGP), has been unveiled by the Offshore Wind Industry Council (OWIC) to support more than 650 businesses boost the value and growth of the offshore sector.

The OWGP is part of the Sector Deal, drawn up recently between industry and the Government, which will see at least 30GW of offshore wind installed in the UK by 2030 – generating a third of the UK’s electricity and increasing UK business contributions to the nation’s offshore content from 48% to 60%.

Delivered by the Offshore Renewable Energy Catapult, the programme will help develop the UK offshore supply chain and enable companies from other sectors to enter the market and spur the development of new innovation that can accelerate growth in the sector.

Industry Chair of the OWIC and Ørsted UK country manager for offshore, Benj Sykes, said: “The offshore wind industry is offering multi-million-pound opportunities to hundreds of innovative companies throughout the UK in the years ahead – including new entrants to the market as well as firms already working in this area.

“The Offshore Wind Growth Partnership will provide practical help for UK companies so they can compete successfully for contracts in this thriving global market. The UK’s global pre-eminence in offshore wind means we are uniquely placed to sell our innovative products and services worldwide.”

The global market is forecast to be worth £30bn annually by 2030; UK offshore wind exports alone could grow five-fold by the end of the next decade to £2.6bn.

The UK sits at number eight in the world rankings for the most attractive renewable energy markets for investors, largely due to the Government’s recent statement that offshore wind power will provide a third of the nation’s electricity by 2030.

RenewableUK figures show that a record-breaking total of more than 2GW of offshore windfarms became operational in UK waters during 2018. Eight new offshore windfarms were officially opened during the year, bringing the annual total of new capacity to 2,121 MW– nearly double the previous annual record of 1,154 MW in 2012.

* In 2015, world leaders agreed to 17 goals for a better world by 2030. https://www.globalgoals.org/
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Ensure access to affordable, reliable, sustainable and modern energy for all.

Renewable energy solutions are becoming cheaper, more reliable and more efficient every day. Our current reliance on fossil fuels is unsustainable and harmful to the planet, which is why we have to change the way we produce and consume energy. Implementing these new energy solutions as fast as possible is essential to counter climate change, one of the biggest threats to our own survival.

Target 7.A

PROMOTE ACCESS TO RESEARCH, TECHNOLOGY AND INVESTMENTS IN CLEAN ENERGY

By 2030, enhance international cooperation to facilitate access to clean energy research and technology, including renewable energy, energy efficiency and advanced and cleaner fossil-fuel technology, and promote investment in energy infrastructure and clean energy technology.[/vc_column_text][/vc_column][/vc_row]