UK Leasing

UK pledges additional $ 218 million to support offshore wind energy

Posted on Nov 1, 2021 5:25 PM by

The maritime executive

The UK government has announced plans for an additional $ 218 million in funding dedicated to developing the offshore wind energy industry. This is in addition to previous support of $ 275 million for offshore wind projects announced by the government earlier this year. The aim is to support the development of new large-scale floating offshore wind ports and wind farms with a focus on the potential of Scotland and Wales.

By announcing the funding. Prime Minister Boris Johnson said it was designed to support the overall plan to deliver 1 GW of power from floating offshore wind by 2030, nearly nine times more than current volumes globally . Johnson said he also expects private sector investment to join the government in mass-producing floating offshore wind turbines and installing them at sea. Johnson previously announced that major energy companies, including Iberdrola, s ‘were committed to investing billions of dollars in the UK’s offshore wind programs.

“Floating offshore wind is essential to unleash the spectacular wind energy resources we enjoy in the UK, especially in the deep waters around the coasts of Scotland and Wales,” the UK secretary said. in Business and Energy, Kwasi Kwarteng. “This new investment will put us in a leadership position to take full advantage of the economic benefits of this rapidly growing industry. “

The UK cites its successes so far in offshore wind while citing the potential for long-term development.
To date, they report that the efforts have resulted in a 65% drop in the cost of energy derived from offshore wind power in addition to significant investment commitments for the development of new offshore wind ports at Teesside and in the Humber.

Making the most of the deep waters off the Scottish coast offers enormous opportunities for Scottish coastal communities, with the government highlighting opportunities to capitalize on Scotland’s lead as a technology hub for the offshore wind farm. Scotland already has two of the world’s first floating offshore wind farms off the coast of Aberdeen and a new lease cycle is underway. The Celtic Sea is also seen as a major development opportunity for the offshore wind sector. They highlighted the combination of deep waters and strong winds, which could provide important development opportunities in Wales.

The newly allocated funding follows a similarly sized UK government fund dedicated to modernizing ports and infrastructure for the offshore wind industry. In total, the government estimates that more than $ 2 billion in investments have been secured. Earlier this year, the government also launched efforts to accelerate low-carbon electricity generation, including $ 276 million in support for offshore wind projects and $ 33 million for floating offshore wind.

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