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 (16.08.2019): EU carbon prices at a new 5-week low on Thursday, due to speculative selling, Brexit fears and a weak macroeconomic context

16/08/2019 11:26:00

Intensifying recession fears spurred by downbeat economic data in Europe and China dragged the crude oil prices lower on Thursday. China’s warning about potential countermeasures in response to the latest U.S. tariff on Chinese goods also weighed on the market. Moreover, the rise in the U.S. crude inventories, extended unexpectedly into the second week, added pressure on crude prices. Under such circumstances, Brent crude dropped by 2.1% to $58.23 a barrel, while WTI futures lost 1.4% to trade at $54.47 a barrel.


Germany's E.on plans 440-MW wind park in Texas

16/08/2019 08:41:00

A week after opening a 201-MW wind park in Texas, German utility E.on SE announced it will build an even larger one in the Lone Star State.


Equinor Starts Up Major $7.7B Oil Field In UK North Sea

16/08/2019 08:37:00

Norwegian energy giant Equinor announced on Thursday first oil from the Mariner oil field in the UK North Sea whose start-up has been delayed twice over the last year due to technical issues.