Offshore Wind Industry To Get Huge UK Investment

MarineLink.com
Wednesday, August 07, 2013
Wind Turbines photo in public domain

Government and business publish 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 £7 billion in the economy by 2020.

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.

Investments by the government will include £20 million from the Regional Growth Fund to improve the UK wind industry’s supply chain, and £46 million 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.

Key announcements include:

  • £20 million from the Regional Growth Fund for GROW: Offshore Wind, a new Manufacturing Advisory Service programme to support the UK supply chain to become more competitive by offering tailored support from specialists
  • £46 million funding over five years for the Offshore Renewable Energy Catapult Centre to join up innovation between industry, government and academia and help companies to bring new products to market
  • a new Offshore Wind Investment Organisation, established by UKTI, to attract inward investment to the UK
  • industry-led initiatives to share information with the supply chain about their procurement timelines and contracting decision points
  • a proposal that would require developers of offshore wind farms above a certain size to produce a supply chain plan before they can apply for a Contract for Difference – long-term contracts to provide stable revenues for investors in low carbon energy projects – setting out how the project and procurement approaches will encourage a wider, more diverse supply chain and support innovation and skills
  • expansion of the scope of the DECC offshore wind manufacturing funding scheme to support port and coastal infrastructure development in assisted areas of England. Any grants offered will be conditional on sites securing manufacturing investment
  • the Green Investment Bank has an ambition to invest a significant proportion of its £3.8 billion capital in offshore wind, co-investing in projects with commercial parties

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."

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Traders Scramble for Caribbean Crude Storage

Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash

Offshore

Latest ShipConstructor Update Targets Offshore

With the release of ShipConstructor 2016 R1.1, SSI said it provides additional enhancement for the offshore rig construction market, particularly with regards to weld management.

MODEC FPSO Achieves First off Brazil

MODEC, Inc. announced today that its FPSO Cidade de Itaguai MV26, operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil,

AFBO to Provide Security in Arctic Waters

State of the Arctic Council to establish a new mechanism to strengthen operational cooperation and coordination of activities at sea. This is dictated by the

Finance

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price

Brent Crude Falls More than 7 Percent

Brent crude futures tumbled more than 7 percent on Tuesday, falling back below $50 a barrel as data highlighting China's contracting manufacturing sector revived

Gunvor Emerges as Winner in Rosneft's Jumbo Oil Tender

Trading house Gunvor, which has been selling assets in Russia, has again emerged as the winner of a semi-annual Rosneft tender, traders said on Tuesday.   They said Gunvor would lift from 200,

Wind Power

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

MHI, SBG Invest in Wind Energy Startup Altaeros Energies

Mitsubishi Heavy Industries, Ltd. ("MHI") and the Suhail Bahwan Group ("SBG") have invested in Altaeros Energies, a Massachusetts-based technology company, to

What Have We Learned From Hurricane Katrina?

To mark the 10th anniversary of Hurricane Katrina, specialist insurer Allianz Global Corporate & Specialty (AGCS) has released a report analyzing windstorm risks

Offshore Energy

MODEC FPSO Achieves First off Brazil

MODEC, Inc. announced today that its FPSO Cidade de Itaguai MV26, operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil,

First Damen Twin Axe Workboat for Middle East

Damen Shipyards Group has delivered a Damen Fast Crew Supplier (FCS) 2610 workboat, named AOS SWIFT for the Atlantic Maritime Group on 20 August 2015. This is

Harkand: Expanding the Fleet, Growing a Global Business

International inspection, repair and maintenance (IRM) company Harkand aims to be a $1 billion company. MR’s Tom Mulligan recently met with John Reed, the company’s CEO,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.9641 sec (1 req/sec)