UK 40GW offshore wind target ‘needs £50 billion’ in investment – Windpower Monthly

UK Prime Minister Boris Johnson is due today to unveil the UK’s first target for floating offshore wind capacity – 1GW by 2030, nearly 15 times the current operational capacity worldwide.

He is also to set a target to support up to double the capacity of renewable energy in the country’s next contract for difference (CfD) auction, which is due to open in late 2021.

Johnson is today to pledge £160 million (€176 million) to upgrade ports and factories for building offshore wind turbines and infrastructure, according to reports.

He will reportedly claim that within a decade every home in the UK will be powered by electricity from offshore wind farms, while the investment will create 2,000 construction jobs and support 60,000 more.

“Your kettle, your washing machine, your cooker, your heating, your plug-in electric vehicle — the whole lot of them will get their juice cleanly and without guilt from the breezes that blow around these islands,” he is expected to say.

The UK government last year pledged to invest in supply chain development and energy infrastructure as part of a “sector deal” with the UK offshore wind power industry.

This was intended to help reach a target of 30GW offshore wind capacity by 2030, although this target was later raised to 40GW in the Conservative Party’s manifesto for the December 2019 general election.

Industry groups are looking forward to the announcement, with the Offshore Wind Industry Council claiming the investment could help the UK “build a world-leading, competitive supply chain”, and