Global offshore wind presents a £30bn opportunity for UK firms

2nd October 2018


Web hywindturbines shutterstock 677787295

Related Topics

Related tags

  • Energy ,
  • Technology ,
  • Renewable ,
  • Wind ,
  • Global

Author

Christelle Zemkoho

The global offshore wind sector could be worth as much as £30bn to British firms every year by 2030, with China, the US, Germany and India all seeking to benefit from the UK’s expertise.

That is according to a new prospectus commissioned by the Offshore Wind Industry Council (OWIC), which is working on a deal with the government that would deliver at least a third of the UK’s electricity from offshore wind by 2030.

The document forecasts that the sector would employ around 27,000 people in Britain by that time, and expects UK companies to be winning contracts to work on projects all over the world.

It outlines how these businesses are already leaders for key services like designing, building and operating offshore wind farms, as well as manufacturing turbine blades and cables.

Former McLaren Group CEO and Formula 1 team principal Martin Whitmarsh, who was appointed earlier this year to conduct a supply chain review for the OWIC, said the opportunities were “exciting and substantial”.

“These opportunities won’t only be for ‘traditional’ offshore wind suppliers involved with components like turbines, foundations, boats and cables, but also in robotics, drones, sensors and big data,” he added.

The prospectus also highlights further opportunities for the supply chain to grow in the UK through manufacturing more turbine towers and foundations.

It predicts that an ambitious deal between the sector and government could result in around 60% of UK offshore wind farms being provided by British firms by 2030, up from 48% today.

Further innovation in turbine blade technology and materials and higher voltage cables could also help growth in the sector, along with floating turbines like those unveiled in Scotland last year.

Moreover, the document outlines how offshore wind can help provide flexibility to modern energy systems, and suggests building on knowledge from the aerospace, automotive and space industries to foster more innovation.

Offshore Renewable Energy Catapult chief executive Andrew Jamieson said: "The UK has been highly successful in recent years in developing truly world-leading expertise, but the real growth story is just beginning.

“This report highlights the huge domestic and international opportunities over the coming years for innovative UK companies in fields like robotics, artificial intelligence, data and digitalisation and autonomous systems.”

Image cerdit: Shutterstock

Subscribe

Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.


Transform articles

UK public wants more involvement in planning process, IEMA research finds

Three in five British adults want more public involvement in the planning system, which could be at odds with Labour’s plans to boost economic growth, IEMA research has found.

3rd July 2024

Read more

Ahead of the UK general election next month, IEMA has analysed the Labour, Conservative, Liberal Democrat, and Green Party manifestos in relation to the sustainability agenda.

19th June 2024

Read more

Disinformation about the impossibility of averting the climate crisis is part of an alarming turn in denialist tactics, writes David Burrows

6th June 2024

Read more

Rivers and waterways across England and Wales are increasingly polluted by sewage spills. What is causing the crisis and what is being done to tackle it? Huw Morris reports

31st May 2024

Read more

IEMA submits response to the Future Homes Standard consultation

31st May 2024

Read more

In January, the Welsh government consulted on a proposed white paper, 'Securing a Sustainable Future: Environmental Principles, Governance and Biodiversity Targets for a Greener Wales'.

31st May 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close