Importance of the UK’s offshore wind industry was at the heart of a speech delivered by Greg Barker, the UK Minister of State for Energy and Climate Change, to the Royal Bank of Canada Capital Markets on UK renewables infrastructure investor day.
Mr. Barker stressed that the UK is now the fastest-growing economy in the G7, thanks to the positive impact of its policies.
The UK created certainty for investors, who can rely on the country’s long-term commitment to renewables, its policy framework and funding in place, Mr. Barker went on to say. “And if we are to realise our huge ambitions for renewables and offshore wind especially, we are going to need that certainty,” he added.
The country aims at installing from 8 to 15 GW of offshore wind capacity by 2020, which could create up to 35,000 jobs.
According to him, to keep the leading position in offshore wind, the UK Government intends to strengthen its expertise in the supply chain and in other renewables.
Mr. Barker concluded by saying that the UK Government was dealing with some remaining issues and was acting to de-risk and open up new opportunities for investors, consistent with both its 2050 climate change targets and its long-term economic plan.