By 2030, 1/3 of United Kingdom energy will come from offshore wind

Our reaction to Offshore Wind Sector Deal

Government turns up power on offshore wind | Business

Jeremy Sainsbury OBE, Director at Natural Power, said: "The Offshore Wind Sector Deal is great news for the Natural Power team that offers a whole range of services".

The government also hopes the deal will cement Britain's leading position in the technology and has set a target of boosting exports in the sector fivefold to £2.6bn a year.

In a deal between the government and the offshore wind sector, industry players have agreed to invest £250m over the next 11 years in exchange for participation in £557m of state subsidies for renewable energy.

This is the first Sector Deal for a renewable energy technology.

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"By 2030 a third of our electricity will come from offshore wind, generating thousands of high-quality jobs across the United Kingdom, a strong United Kingdom supply chain and a fivefold increase in exports".

The UK government launched on Thursday a joint government-industry Offshore Wind Sector Deal, which is expected to significantly raise the share of renewable energy generation by 2030 and help it overtake fossil fuel-powered generation for the first time in UK history.

Specifically, the Global Wind Energy Council (GWEC) will coordinate with the World Bank Group's Energy Sector Management Assistance Program (ESMAP) and the International Finance Corporation (IFC) on efforts to accelerate the uptake of offshore wind in emerging markets by helping countries assess their offshore wind potential and providing technical assistance to help develop a growing pipeline of projects that are ready for investment by renewable energy developers.

Scottish Energy Minister Paul Wheelhouse said: 'Offshore wind has a key role to play in achieving our ambitious energy targets and delivering a low-carbon energy system.

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The sector will deliver total infrastructure investments of over US$52.5 billion (£40 billion) by 2030, based on the sector's estimates, according to the deal. Companies are burgeoning in clusters, creating new centres of excellence in this clean growth boom.

Benj Sykes, UK country manager for Danish offshore wind power company Ørsted, said: "This relentlessly innovative sector is revitalising parts of the country which have never seen opportunities like this for years, especially coastal communities from Wick in the northern Scotland to the Isle of Wight, and from Barrow-in-Furness to the Humber".

Martin said: "We expect this announcement to encourage innovation in the offshore sector, which should lead to closer working with academia, quickening the pace of technological change".

The program will convene developing country governments, commercial developers, development partners, and wind energy experts to raise awareness around offshore wind opportunities in emerging markets and lay the groundwork for a pipeline of new projects that could be supported by World Bank or IFC financing. "We also want to ensure far more diversity in the industry, by reaching a target of at least 33% women employees by 2030, and by recruiting people from a wider variety of ethnic backgrounds". The geographical segmentation of the Floating Offshore Wind Power market has also been covered at length in this report.

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