Global offshore wind industry predicted to be worth £30bn per year by 2030
British companies are among the most likely to reap the rewards from the growth of the global offshore wind sector, which is set to be worth more than £30bn annually by 2030.
That is the key conclusion of a new report from the Offshore Wind Industry Council (OWIC) and trade body RenewableUK, which claims that wind products and services provided by UK-based firms are expected to be worth £4.9bn a year by 2030.
Published on Monday (1 October), the Offshore Wind Industry Prospectus reveals that if the UK Government was to publish a Sector Deal requiring at least a third of the nation’s electricity to be generated from offshore wind by 2030, the industry would employ 27,000 workers.
The report includes insight from former McLaren Group chief executive and F1 Team Principal Martin Whitmarsh.
The 21-page document also hails UK companies as world leaders in key services such as designing, building and operating offshore wind farms, as well as manufacturing blades and cables. It claims that the likes of China, Germany, India and the US are likely to seek British expertise on offshore wind in the near future.
The report has received backing from Energy and Clean Growth Minister Claire Perry, who said the UK has “helped to realise an extraordinary coming of age for the global offshore wind sector”, setting the nation up to “reap the reward in new export markets, alongside building on its successes at home”.
The publication comes shortly after the Government announced plans to ensure that an additional 1-2GW of capacity is added to the UK’s offshore wind sector each year through the 2020s.
Claire Perry said that while the UK’s supply chains for offshore wind projects are “strong” and set to expand along with capacity, she believes there is more to be done to ensure the commitment “translates into a comprehensive industrial success story. I want to see the UK supply chain increase its global competitiveness by building on areas of strength, capitalising on our world-leading research base to drive innovation, creating new British manufacturing capability and attracting new supply chain players to the UK – while continuing to drive down costs,” she added.
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