Natural Power welcomes Offshore Wind Sector Deal

James Ritchie Chairman of Energi Coast

James Ritchie Chairman of Energi Coast

Offshore wind farms will generate a third of British electricity in a little over a decade, the government claimed on Thursday, as it announced a new deal with industry.

They now meet around 7 per cent of our power needs but that should increase to more than 30 per cent within a decade.

United Kingdom managing director Matthew Wright said: "The sector deal marks the coming of age of offshore wind as both a significant part of the UK's energy transformation and an industrial powerhouse driving economic growth".

The deal will increase the sector's target for the share of UK-based production for offshore wind projects to 60 per cent, to ensure the £557 million pledged by the Government for future clean power auctions benefit local communities around the country.

"It would also ensure that offshore oil and gas workers' with the industry standard OPITO qualifications will be allowed to transfer between sectors free from the barriers unilaterally imposed by the Global Wind Organisation".

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.

Sales and Revenue Analysis - The Offshore Wind Cable report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin.

The UK's offshore trade union RMT has raised concerns over the impact on workers from today's Government offshore wind energy strategy.

The Chief Executive of RenewableUK, Hugh McNeal, said: "The Sector Deal is about creating opportunities for the people who will be part of our 27,000-strong offshore wind workforce".

The global Floating Offshore Wind Power market 2019 is also analyzed on the basis of product pricing, Floating Offshore Wind Power production volume, data regarding demand and Floating Offshore Wind Power supply, and the revenue garnered by the product.

The government will also provide £4m for a programme to help countries such as Indonesia, Vietnam and Pakistan invest in offshore wind projects using British technology.

"This transformative sector deal will unlock significant additional investment from the whole industry and put offshore wind at the front and centre of the UK's Industrial Strategy".

"Renewable power now presents the best opportunity for cheaper, cleaner and faster decarbonisation", executive director John Sauven said.

The offshore wind industry has grown almost five-fold since 2011, with 23 gigawatts installed at the end of 2018 and a large volume of planned projects in Europe, China and the United States.

'Wind and solar must be tripled between now and 2030, with offshore wind the future backbone of the UK's energy system'. "This investment will allow our world-leading expertise to be shared globally to encourage developing countries to move away from dirty coal power and embrace renewable energy, growing their economies".

As part of the country's modern Industrial Strategy, Britain aims to become a global leader in renewable sectors with more investment potential than any other country in the world.

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