Offshore wind ‘could provide half of UK’s power demand’

04/02/2019 09:38 Wind


Offshore wind could provide a cost-effective and low carbon route to providing at least half of the UK’s future electricity demand.

That’s the verdict made in a new report commissioned by the Offshore Wind Industry Council (OWIC), which claims a long-term government strategy would enable private investment into the sector to continue, resulting in projects becoming largely subsidy-free in the 2020s.


The report suggests the UK’s offshore wind industry needs to seize the “huge export opportunity” available and argues it must be encouraged to innovate and create valuable intellectual property.


To achieve the growth required, it suggests businesses will have to commit to the sector and build a solid supply base to create lasting employment and export revenues.


The organisation warns placing UK manufacturing on a level playing field with foreign state-assisted competitors is likely to prove unsuccessful in the long term.


Daily (14.02.2019): Oil prices climbed by 1.8% on Wednesday, as Saudi Arabia plans to reduce crude exports and production

14/02/2019 12:16:00

Oil prices were bullish on Wednesday, after Saudi Arabia announced its plans to reduce crude exports and production. At the same time, rising U.S. crude inventories might still put pressure on the market. As a result, Brent crude increased by 1.9% to 63.61 USD/bbl. WTI crude rose by 1.5% to 53.90 USD/bbl.


European consortium to buy 80% of Veja Mate offshore wind park

14/02/2019 10:10:00

A consortium led by asset manager Commerz Real AG and IKEA franchisee Ingka Group will acquire an 80% stake in the 402-MW Veja Mate offshore wind park in the German North Sea.


Over 500 Agreements to be Signed at Russian Investment Forum

14/02/2019 09:55:00

Over 500 agreements worth a total of 800 billion roubles are expected to be signed at the Russian Investment Forum 2019. This preliminary estimate is based on the information from the Forum participants and from open sources.