The United Kingdom's offshore wind sector offers U.S. companies significant market opportunities to fill supply chain gaps in wind turbine and component manufacturing, project installation, and operations and maintenance expertise, industry experts said today at a briefing by UK Trade & Investment at the annual WINDPOWER 2011 conference in Anaheim, CA.
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CONTACT: Evan Scandling
UK Market Opportunities Identified by Wind Energy Industry Experts
ANAHEIM, CA (May 23, 2011) - The United Kingdom's offshore wind sector offers U.S. companies significant market opportunities to fill supply chain gaps in wind turbine and component manufacturing, project installation, and operations and maintenance expertise, industry experts said today at a briefing by UK Trade & Investment at the annual WINDPOWER 2011 conference in Anaheim, CA.
"The UK has led the world in offshore oil exploration and production, and is now pioneering offshore wind energy development," said Michael Rosenfeld, UK Trade & Investment, Vice Consul - USA Clean Technology Sector. "Despite the country's global leadership and homegrown expertise, the UK's offshore wind industry growth will hinge upon innovations and experience supplied by overseas companies like the ones at WINDPOWER this week.
"With the most installed offshore wind energy capacity in the world, and a market estimated to be worth up to £170 billion per year, the UK is an ideal environment for international companies to establish a business presence and launch new products and services."
While there are currently more than 150 active UK-based wind industry companies, certain gaps in the country's supply chain exist, opening significant business opportunities for foreign direct investment and overseas know-how. Specific areas of opportunity include:
Wind turbines and components including gearboxes, bearings, generators, large castings and forgings;
Blade development and manufacturing;
Wind turbine installation vessels;
Balance of plant including supply of foundations, offshore substation, cables and cable laying vessels; and
Operations & Maintenance (O&M) skilled engineers
With Europe's most abundant natural resources for offshore wind power, the UK holds the potential to deliver nearly 50 GW of clean electricity to the UK by 2030. Due to the massive growth potential available, the UK's offshore wind industry is expected to expand up to 10 percent per year, creating up to 230,000 jobs by 2050, according to a recent study by the Carbon Trust.
The UK's strong policy commitment to reduce carbon emissions and transition to a sustainable, clean energy economy is creating a dynamic business environment attracting and supporting international companies, including global wind industry leaders such as Clipper Windpower, General Electric, Siemens, Gamesa and Mitsubishi.
Most recently, Chris Huhne, UK Secretary of Energy and Climate Change, announced plans to cut carbon emissions in half by 2027 (based on 1990 levels), making the UK the first country to declare a legally binding target on greenhouse gas emissions beyond 2020.
Measures taken by the UK government to spur growth specifically of offshore wind capacity and generation include significant financial support, with more than £500 million of expected government backing from 2011 - 2014. Additionally, the UK's Renewable Obligation - similar to a renewable portfolio standard (RPS) - has been extended through 2037.
UK Trade & Investment - which has identified the West Coast of North America as one of its priority markets for clean energy business development - is hosting an additional briefing session on Tuesday, May 24 at WINDPOWER 2011 that will identify and facilitate business opportunities in the North America and UK small wind sectors. For more information please visit:http://www.ukti.gov.uk/export/countries/americas/northamerica/unitedstates/event/129460.html.
North American renewable energy and clean technology companies interested in learning more about business opportunities in the United Kingdom are encouraged to visit booth #477 or contact Michael Rosenfeld, UK Trade & Investment, Vice Consul - USA Clean Technology Sector at 310 420 0835 or email@example.com.
About UK Trade & Investment
UK Trade & Investment (UKTI) is the British Government Department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK's economy - acknowledged as Europe's best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information on UKTI, visit www.ukti.gov.uk or telephone +44 (0)20 7215 8000. For latest press releases, visit the online newsroom at www.ukti.gov.uk/media.
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