Growing the UK’s offshore wind supply chain represents a potential £92 billion boost for the economy by 2040.
A new report by the Offshore Wind Industry Council (OWIC) and the Offshore Wind Growth Partnership (OWGP) argues that while the UK has received significant investment from developers and government, more could be done to keep the supply chain resilient.
The report advises UK suppliers competing with those of other countries for vital contracts, and the jobs and opportunities they bring.
The government has a target to reach 50GW of offshore wind by 2030. This expansion represents a significant increase in demand for equipment and services required to develop, construct and operate farms.
Meanwhile, expansion in other countries provides an opportunity for the UK to export its equipment, services and expertise abroad.
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OWIC vice-chair Sophie Banham said the UK needs to “keep its foot firmly on the accelerator” to avoid falling behind other nations.
“By intervening in key areas, we can ensure the UK’s ambitious deployment targets are achieved in a way that maximises benefit to the UK through the development of industrial clusters, inward investment and significant job creation,” added Banham.
OWGP chair Tim Pick said: “The UK is one of the world leaders in offshore wind in terms of installed capacity, contributing to lower energy bills, extra money for the public purse, and new jobs being created in coastal towns and cities.”
“However, we’re only really scratching the surface when it comes to the full potential economic and social benefit of offshore wind, which we can only capture by maturing our domestic supply chain,” Pick continued.
