UK companies urged to take advantage of £30bn offshore wind opportunity

2nd October 2018 | Commercial Energy

Opportunities for companies to get involved in the UK’s fast-growing offshore wind supply chain are being highlighted in a new prospectus by the former McLaren Group chief executive and Formula One team principal Martin Whitmarsh. The Offshore Wind Industry Prospectus showcases the expansion of a multi-billion pound global market in which UK companies are winning contracts to work on projects here and around the world. The UK is the global leader in offshore wind, and the international market is expected to be worth £30bn (US$39bn) a year by 2030. China, the US, Germany and India are among the countries are seeking to benefit from our expertise.

In the document, Mr Whitmarsh noted that, “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 to name just a few … It is a sector full of opportunity and now is the time to get involved.”

Offshore wind

The prospectus was commissioned by the Offshore Wind Industry Council (OWIC). OWIC is working with government on a sector deal which aims to deliver at least a third of the UK’s electricity from offshore wind by 2030, by which time the offshore wind industry will employ 27,000 people. The domestic and export market for offshore wind products and services provided by UK-based firms is expected to be worth £4.9bn a year by 2030.

The document underlines the fact that UK companies lead the world in key services such as designing, building and operating offshore windfarms, as well as manufacturing blades and cables. It said there are further opportunities for the supply chain to grow here by manufacturing more turbine towers and foundations. It suggested that, with and ambitious Sector Deal between industry and government, around 60% of the content of UK offshore windfarms could be provided by UK companies by 2030: up from 48% today.

More information available on the website below,uk-companies-urged-to-take-advantage-of-30bn-offshore-wind-opportunity_54402.htm