New Program to Accelerate Expansion of Offshore Wind Power in Developing Countries

Cristina Cross
March 10, 2019

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. That is why Labour has set out plans for a seven-fold increase in offshore wind by 2030, creating 120,000 jobs.

A third of Britain's electricity could be generated by offshore wind farms by 2030, the Government said yesterday.

Britain will invest 250 million pounds (327.5 million USA dollars) to develop the country's supply chain, with global exports set to increase fivefold to 2.6 billion pounds by 2030, said the release.

The new 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 £557m pledged by the Government for future clean power auctions benefit local communities around the country.

The report studies the market for Floating Offshore Wind Power across the globe taking the existing industry chain, the import and export statistics in Floating Offshore Wind Power market & dynamics of demand and supply of Floating Offshore Wind Power into consideration. "The Sector Deal will attract even more businesses in the United Kingdom to join the offshore wind supply chain and we are excited to see the transformative impact this will have on our projects".

"Offshore wind is a central part of the world's clean energy future due to its renewed competitiveness and scalability", said Ritchie.

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.

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The program will convene developing country governments, commercial developers, development partners, and wind energy experts to raise awareness around offshore wind opportunities in emerging markets and lay the groundwork for a pipeline of new projects that could be supported by World Bank or IFC financing.

The UK government and the industry are committing to long-term certainty in renewable power contracts and investments in infrastructure, respectively, to boost the offshore wind industry in the UK. It means the government's latest offshore wind target of 30 gigawatts by 2030 is woefully inadequate.

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

The Co-Chair of the Offshore Wind Industry Council and Ørsted UK Country Manager for Offshore, Benj Sykes, said: "This relentlessly innovative sector is revitalising parts of the country with transformational, sustainable opportunities, especially coastal communities, from Wick in the north of Scotland to the Isle of Wight, and from Barrow-in-Furness to the Humber".

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. "Wind and solar must be tripled between now and 2030, with offshore wind the future backbone of the UK's energy system".

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

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