Published: Sun, March 10, 2019
Sci-tech | By Patricia Wade

Natural Power welcomes Offshore Wind Sector Deal

Natural Power welcomes Offshore Wind Sector Deal

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.

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

The Department for Business, Energy and Industrial Strategy said the Offshore Wind Sector Deal included a £250m offshore wind growth partnership, meant to ensure companies working in relevant coastal regions "continue to be competitive and are leaders internationally in the next generation of offshore wind innovations".

The Global Wind Energy Council and the World Bank Group announced plans on Thursday to cooperate on efforts to develop new offshore wind in emerging markets.

James Ritchie, Chairman of Energi Coast and CEO of Tekmar Group plc, said: "The Sector Deal for the offshore wind industry is a significant step forward in creating a sustainable industry and providing real value creation to our local supply chain, which is fit and ready to serve our growing sector".

BEIS said the deal would involve increasing the amount of participation by United Kingdom companies in offshore wind projects to 60% to ensure that the benefits of the investment go to communities "from Fife to the Isle of Wight".

It also aims to triple jobs in the sector to 27,000 by 2030 while improving diversity.

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Additionally, it "will look to seize on the opportunities presented by the UK's 7,000 miles of coastline, as the industry continues to be a coastal catalyst for numerous UK's former fishing villages and ports", the government statement said.

Key Strategic Developments - The study also includes the key strategic developments of the Offshore Wind Cable market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, Global and regional growth of the leading competitors operating in the market on a global and regional scale. "The country needs a viable, safe, skilled and secure offshore wind industry employing hundreds of thousands of workers, based on a model that sustainably exploits all our energy resources for decades to come".

'Renewable power now presents the best opportunity for cheaper, cleaner and faster decarbonisation.

The UK is already the world leader in offshore wind, with more capacity than any other country, the biggest offshore wind farms and the most powerful turbines. Market Segmentation and Analysis (Overview, Market Size and Demand Forecast until 2023) 7.1 Floating Offshore Wind Power Market By Components 7.1.1 Turbines 7.1.2 Floating foundations 7.1.3 Anchoring systems 7.1.4 Vessels and installation methods 7.1.5 Ports and harbour facilities 7.2 Floating Offshore Wind Power Market By Location 7.2.1 Shallow Water ( 60m Depth) 8.

"Companies are burgeoning in clusters, creating new centres of excellence in this clean growth boom", he said.

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