UK to Own 10% of Global Offshore Wind Market by 2050

30 March 2011 (Last Updated March 30th, 2011 18:30)

The UK is likely to have a 10% share in the global offshore wind market, expected to be worth £170bn, by 2050. The country's wind portfolio will include installation, operation and maintenance of turbines at sea, according to a study funded by the UK's Carbon Trust. The wind ind

The UK is likely to have a 10% share in the global offshore wind market, expected to be worth £170bn, by 2050.

The country's wind portfolio will include installation, operation and maintenance of turbines at sea, according to a study funded by the UK's Carbon Trust.

The wind industry will generate £100bn ($160.3bn) for the UK between 2010 and 2050, and may employ 230,000 people by 2050.

Carbon Trust director of innovations Benj Sykes told Bloomberg that offshore wind was a strategically important economic asset for the UK that would enable it to deliver long-term growth and energy security.

At present, the UK has more offshore wind generation capacity than any other country and looks to reduce greenhouse gas emissions and meet European energy targets through new technologies.

Manufacturers including Fairfield, General Electric, Siemens and Gamesa, and developers such as Centrica, RWE and E.ON have set shop in the country based on its green energy plans.

In January 2010, the UK Government awarded licences for 32,200MW of offshore wind projects to firms including Centrica, RWE, Statoil, EDP Renovaveis, and Scottish and Southern Energy.