Investment funds, pension funds and sovereign wealth funds are among groups today being asked to join the UK’s renewable energy revolution and invest in large offshore wind projects.
At a conference in London, Ministers will meet potential investors in offshore wind projects to establish what can be done to increase investment in this area. The UK needs around £200bn of investment in new energy infrastructure to help reduce dependence on imported fossil fuels and boost our energy security. Much of this will need to come from sources beyond the UK’s current major energy suppliers.
The Prime Minister David Cameron, said:
“I see offshore wind as a significant energy and industrial opportunity for the UK, and one that I am determined to seize.
“I believe the UK will remain the world’s most attractive offshore wind market for many years to come. We have abundant natural advantages and a world-leading marine engineering base.
“The Coalition Government strongly supports the growth of renewable energy in order to help diversify and decarbonise our long-term energy mix.”
Charles Hendry, Minister of State for Energy, said:
“Getting new capital into projects like offshore wind farms is the difference between getting them off the drawing board and into the water, creating jobs and stimulating growth.
“We have invited potential investors to London today to make the case for offshore wind as a stable, long-term and lucrative investment opportunity. The UK is a global leader in offshore wind and if people are not seriously considering investing here then I want to know why.”
Notes for editors
- Further information about offshore wind in the UK