Rob Hastings, Director of Energy and infrastructure at the UK Crown Estate and key note speaker at the INTPOW Forum 2013, states: ”Offshore wind is a jewel in the crown of the national UK energy mix”.
Ernst & Young has said global investors rank the UK as the most attractive place to invest in offshore wind, ahead of Germany, and the British offshore sector has become a truly global-scale endeavour, with 50GW in the pipeline, well over 3GW already operational and a build rate of more than 1GW per year.
This is major infrastructure: more than 1,000 turbines in construction or operation, 32 offshore or onshore substations, 40 export cables and 18 offshore meteorological masts in operation. And that’s just the start. Industry has already invested £12bn ($18.2bn) and is increasing that by more than £4bn a year. All this investment is material to the economy: offshore wind can already generate up to 7% of the country’s electricity. Under its Electricity Market Reform (EMR) legislation, this is soon to be updated with contracts for difference based on feed-in tariffs intended to provide greater price certainty for investors, coupled with supportive industrial policies. All this is designed to achieve 18GW of installed capacity by 2020.
More from Rob Hastings @Recharge HERE.