Emma Pinchbeck, RenewableUK: On Thursday I went on a day trip to the seaside. But glorious though the East Coast beaches are, I was there for the something even more spectacular: the launch of the game-changing Offshore Wind Sector Deal with Minister Claire Perry. It was hosted across two working operations in Greater Yarmouth and Lowestoft, and attended by international business leaders, local education partners, UK supply chain companies, and representatives from local organisations. You’ll have read the headlines of the Deal in BusinessGreen: generating one-third of our electricity from offshore wind by 2030, with a near-quadrupling of capacity to 30GW; upping the number of skilled jobs to 27,000; increasing the lifetime content of our UK projects to 60 per cent; and growing our offshore wind exports fivefold. For me, though, the value of the Sector Deal is simple: offshore wind is not just a technology that helps tackle dangerous climate change, but also a heavyweight economic opportunity. Clean, cheap renewable power will be the backbone of our electricity system in the UK, and the industrial opportunity of this transformation is poorly understood. I am delighted that the Sector Deal foregrounds this potential: we expect to attract investment worth £48bn of investment into the UK, unlocked by the certainty the Deal provides in what is now a competitive international market. As a major developer observed yesterday – there is nothing like this for the offshore industry anywhere else in the world.
Business Green 11th March 2019 read more »