UK
Ireland
Scotland
London
Construction News
24/01/2017
UK Offshore Wind Energy Cost Falls By 32% - Report
A new report has revealed the cost of offshore wind energy in the UK has fallen by 32% since 2012.
The annual Cost Reduction Monitoring Framework (CRMF) report, delivered by the Offshore Renewable Energy (ORE) Catapult on behalf of the Offshore Wind Programme Board (OWPB), states the industry target of £100MWh has been reached four years ahead of schedule.
The report states early cost reductions have been reached due to early adoption of larger
turbines, increased competition and the lower cost of capital.
UK Energy Minister, Jesse Norman, said offshore wind will continue to help the UK meet its climate change commitments, as well as delivering jobs and growth across the country.
"The UK's leadership in offshore wind clearly demonstrates that it is an attractive destination for renewable energy investment," he said.
"This growing industry will be an important part of the Government's new industrial strategy, and will be underpinned by £730m of annual support for renewable energy over the course of this Parliament."
"Thanks to the efforts of developers, the UK's vigorous supply chain and support from Government, renewables costs are continuing to fall."
Scottish Energy Minister Paul Wheelhouse said the fall in costs proves the sector is "rising to the challenge to reduce the cost of offshore wind".
Speaking ahead of the Scottish Renewables Offshore Wind Conference, Mr Wheelhouse said: "Our commitment to supporting low carbon energy is outlined in our new Energy Strategy, published today, which sets out our vision for energy production in Scotland to 2050. It outlines the next steps in how we will continue to transition to a low carbon economy, with the offshore wind sector to take an increasingly influential part in that,
"Offshore wind is central to Scotland's carbon emission reduction targets. With 25% of Europe's offshore wind potential, we are uniquely positioned to maximise the economic and environmental benefits that the technology can deliver.
"Today I am addressing the Scottish Renewables Offshore Wind Conference, a key forum for discussion around how we can harness strengths in engineering, science, business and humanities to develop new technologies for the offshore renewables sector.
"Despite the lack of engagement over some key issues for the renewables sector, I remain keen to work together with the UK Government to deliver for our future energy systems and collectively maximise the economic contribution of our approach."
To view the report, visit here.
(LM/MH)
The annual Cost Reduction Monitoring Framework (CRMF) report, delivered by the Offshore Renewable Energy (ORE) Catapult on behalf of the Offshore Wind Programme Board (OWPB), states the industry target of £100MWh has been reached four years ahead of schedule.
The report states early cost reductions have been reached due to early adoption of larger
turbines, increased competition and the lower cost of capital.
UK Energy Minister, Jesse Norman, said offshore wind will continue to help the UK meet its climate change commitments, as well as delivering jobs and growth across the country.
"The UK's leadership in offshore wind clearly demonstrates that it is an attractive destination for renewable energy investment," he said.
"This growing industry will be an important part of the Government's new industrial strategy, and will be underpinned by £730m of annual support for renewable energy over the course of this Parliament."
-- Advertisement --
"Thanks to the efforts of developers, the UK's vigorous supply chain and support from Government, renewables costs are continuing to fall."
Scottish Energy Minister Paul Wheelhouse said the fall in costs proves the sector is "rising to the challenge to reduce the cost of offshore wind".
Speaking ahead of the Scottish Renewables Offshore Wind Conference, Mr Wheelhouse said: "Our commitment to supporting low carbon energy is outlined in our new Energy Strategy, published today, which sets out our vision for energy production in Scotland to 2050. It outlines the next steps in how we will continue to transition to a low carbon economy, with the offshore wind sector to take an increasingly influential part in that,
"Offshore wind is central to Scotland's carbon emission reduction targets. With 25% of Europe's offshore wind potential, we are uniquely positioned to maximise the economic and environmental benefits that the technology can deliver.
"Today I am addressing the Scottish Renewables Offshore Wind Conference, a key forum for discussion around how we can harness strengths in engineering, science, business and humanities to develop new technologies for the offshore renewables sector.
"Despite the lack of engagement over some key issues for the renewables sector, I remain keen to work together with the UK Government to deliver for our future energy systems and collectively maximise the economic contribution of our approach."
To view the report, visit here.
(LM/MH)
Latest Construction News
17/01/2025
Leeds Trinity University has officially opened its newly refurbished City Campus at 1 Trevelyan Square in Leeds.
Completed by GRAHAM Interior Fit-Out, the transformation of the central Leeds site introduces state-of-the-art facilities designed to improve learning and collaborate with industry partn
17/01/2025
Trammell Crow Company (TCC) has secured planning permission for a Grade A logistics scheme in Heywood, Greater Manchester, following a successful planning appeal.
The development will feature two state-of-the-art industrial and logistics buildings. One building will house two units measuring 4,796
17/01/2025
Poole-based developer AJC Group has celebrated a record-breaking 2024, delivering 100 affordable homes, a significant increase from the 72 units completed in the previous year.
Since 2023, AJC Group has completed and handed over 172 affordable homes across five sites.
In 2024 alone, the developer
17/01/2025
Plans for one of the most ambitious parks projects in London have taken a significant step forward, with Haringey Council securing nearly two additional acres of land around The Paddock nature reserve in Tottenham Hale.
The agreement with Thames Water marks a major milestone in the transformation o
17/01/2025
Islington Council has unveiled two draft guidance documents aimed at helping residents, businesses, and developers combat climate change by making buildings more energy efficient and fostering a greener, healthier borough.
The consultation seeks feedback on the draft Climate Action Supplementary Pl
17/01/2025
The City of Wolverhampton Council has unveiled a £98 million investment plan over the next five years to develop around 500 new homes across the city.
The proposal, part of the Housing Revenue Account (HRA) Business Plan, received Cabinet approval this week and now moves to Full Council for final
17/01/2025
Croydon Council has announced a significant milestone in the redevelopment of the Purley Pool site, with revised proposals submitted for a new leisure centre, later living housing, and the regeneration of the surrounding area.
A planning application for the site was initially submitted in 2024, pro
17/01/2025
The City of Wolverhampton Council has announced that demolition work has commenced on the New Park Village estate, marking the start of a major £40 million redevelopment project to transform outdated council housing.
Contractor DSM Demolition has begun pulling down poor-quality bungalows on Valley
17/01/2025
Hillingdon Council has acquired 12 new homes at Carpenters Court in Uxbridge.
Leader of Hillingdon Council, Cllr Ian Edwards and Cllr Steve Tuckwell, Cabinet Member for Planning, Housing and Growth, visited the site to officially mark the handover of the properties from local developer Kearns Devel
17/01/2025
Organisers of UK Construction Week (UKCW) have announced another major coup for the show's 10th anniversary year, with the news that UKCW London will be co-locating with the 14th edition of The Stone Show & Hard Surfaces, the principal industry event for surface design.
Established 26 years ago, th
