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Multi-million pound investment in offshore wind industry to unlock UK billions

Multi-million pound investment in offshore wind industry to unlock UK billions

Government and business have published a long-term strategy that will strengthen the UK's position in the offshore wind industry.

Government and business have today published a long-term strategy that will strengthen the UK's position in the offshore wind industry. The multi-million pound investment has the potential to unlock £7billion in the economy by 2020.

Investments by the government will include £20million from the Regional Growth Fund to improve the UK wind industry's supply chain, and £46million to join up innovation between industry, government and academia and help companies to bring new products to market.

Deputy Prime Minister Nick Clegg and Energy Secretary Ed Davey launched the strategy today during a visit to officially open the Lincs wind farm off the coast of Lincolnshire, developed by Centrica with their project partners DONG Energy and Siemens.

The UK currently has more offshore wind power than the rest of the world combined. The offshore wind industrial strategy aims to grow UK supply chain manufacturing so that more of the work and jobs can be done here.

The industry has the potential to create 30,000 jobs here and contribute £7billion to the economy by 2020. Exports have the potential to add even more to these economic benefits.

Deputy Prime Minister Nick Clegg said: "The race is now on to lead the world in clean, green energy. As an island nation, and with our weather, the UK is ideally placed to make the most of offshore wind energy - you could say it was a technology designed for us.

"This strategy will help keep Britain as the world leader in one of the most important industries of the 21st Century. If we make the most of offshore wind's potential in the UK, it can provide a big proportion of the energy that lights our homes and powers our economy."

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George Bailey