31 October 2016 2016 05:06 PM GMT

New Report Sees Huge British Export Potential In Booming Offshore Wind Sector

RenewableUK has released a new document today which highlights the offshore wind industry’s export potential. The document shows that British companies have already won 115 contracts to provide services for 50 offshore wind projects abroad in this rapidly-growing global sector. British companies are winning multimillion-pound contracts; making and laying cables, installing turbines, and providing other essential services. The higher end contracts in their analysis were valued at £30 million. The analysis also highlights 250 offshore wind farms in development around the world, representing a massive economic and industrial opportunity for the UK.

RenewableUK’s Chief Executive, Hugh McNeal, says the document shows what the offshore wind industry can offer to the UK: “Our world-leading offshore wind industry is already delivering significant investment to the UK. We can continue to secure valuable contracts around the world for British companies by staying competitive – driving down costs and continuing to innovate. We’re determined to maximise the economic and industrial benefits of offshore wind for UK plc”.

The document is being released at the start of Offshore Wind Week, a series of industry events being held across the country to highlight the technology’s vital role to Britain’s economy and future energy mix. Minister of State for Energy and Intellectual Property, Baroness Neville-Rolfe, said: “I welcome this initiative. The UK has invested heavily in offshore wind and it is vital that the manufacturing and service companies involved benefit from the expertise developed in export as well as domestic markets. Much has already been achieved and there are good prospects for achieving much more in the future”.

In July 2016 RenewableUK and the UK Government worked together to bring a delegation of senior figures from China to the UK to learn about offshore wind. In October 2016, we took a group of UK companies to China to do business.

RenewableUK is the trade and professional body for the wind, wave, and tidal energy industries. Formed in 1978, and with more than 430 corporate members, RenewableUK is the country’s leading renewable energy trade association.

August 16th 2019
Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries

Companies in 75 countries actively sourced 465 terawatt hours (TWh) of renewable energy in 2017, an amount close to the overall electricity demand of France, according to the report from the International Renewable Energy Agency (IRENA). With the continued decline in the costs of renewables, the report suggests, corporate demand will continue to increase as companies seek to reduce electricity bills, hedge against future price spikes and address sustainability concerns.

August 14th 2019
Wind: China Maintains Emerging Markets Top Spot Following 19.7GW Build Boom

Wind industry intelligence service A Word About Wind has launched its Emerging Markets Attractiveness Index report for 2018, which provides insight and analysis into the most attractive emerging markets for wind companies. The index, now in its second year, ranks the top 30 emerging markets that investors should consider when investing in wind in Europe, Africa, Asia and Latin America. The list considers factors including political and economic stability for investors, alongside the growth of electricity demand and potential for wind growth, in order to rank the countries by overall potential. As with last year’s report, China tops the list and the ongoing trade war with the US shows no sign of slowing China’s formidable growth.

August 12th 2019
EU Approves Ambitious Energy Efficiency Goals, Encourages Clean Energy Feed-In

Europeans will now be entitled to consume, store and sell the renewable energy they produce in line with ambitious targets set by the EU. The targets are to be reviewed by 2023, and can only be raised, not lowered. By making energy more efficient, Europeans will see their energy bills reduced. In addition, Europe will reduce its reliance on external suppliers of oil and gas, improve local air quality and protect the climate. For the first time, member states will also be obliged to establish specific energy efficiency measures to the benefit of those affected by energy poverty. Member states must also ensure that citizens are entitled to generate renewable energy for their own consumption, to store it and to sell excess production.

August 12th 2019
Battery Boom: Wind And Solar Can Generate Half Of Worldwide Electricity By 2050

Coal is to shrink to just 11% of global electricity generation by mid-century, from 38% now, as costs shift heavily in favour of wind, solar and batteries. Wind and solar are set to surge to almost “50 by 50” – 50% of world generation by 2050 due to reductions in cost. “Cheap battery storage means that it becomes increasingly possible to finesse the delivery of electricity from wind and solar so that these technologies can help meet demand even when the wind isn’t blowing and the sun isn’t shining. The result will be renewables eating up more and more of the existing market for coal, gas and nuclear.”

November 16th 2018
India: Improved Monsoon Winds Help Power Producers in 2018 

After a prolonged period of decline, wind speeds in India during the 2018 monsoon season were significantly higher than normal; and up to 20% higher than long-term averages in some regions. These higher wind speeds benefit wind farm production; welcome news for wind energy operators and investors, who have faced several years of lower-than-normal wind energy production during the monsoon period. These increased wind speeds can thus counter recent patterns of decline contributing to an increase in investor confidence with a data-driven approach.

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