BEIS has published the Offshore Wind Sector Deal, announcing that one-third of British electricity is set to be produced by offshore wind power by 2030.
Published on 7 March, the deal will result in a new £250mn Offshore Wind Growth Partnership to increase UK competitiveness in turbine production, as well as increasing the sector target for the amount of UK content in homegrown offshore wind projects to 60%. BEIS said that the deal will result in a predicted 70% of British electricity being produced from low carbon sources by 2030 and over £40bn of infrastructure investment in the UK. It will reduce the cost of projects in the 2020s and overall system costs, so projects commissioning in 2030 will cost consumers less “as we move towards a subsidy free world”.
The deal will also see Crown Estate Scotland release new seabed land from 2019 for new offshore wind developments.