Trading Kingdoms: Investment ops in the UK renewable energy sector
The UK is now the largest offshore renewable energy market in the world in terms of installed capacity.
A world leader
This energy policy commitment can be seen clearly in the Siemens and ABP (Associated British Ports) 310-million-pound investment in wind turbine production and installation facilities in the Hull Humber Region.
This decision to construct a production facility for offshore wind turbines in the UK is part of the Siemens global strategy. This has attracted the attention of many Danish supply chain companies that are active in this sector. The region is now building a suppliers cluster for this developing industry, which offers considerable opportunities for established players.
From pipeline to product
The Green Port Hull project has been under development for around four years and is the product of a huge team effort between the UK Government, the business community and many Siemens employees in the UK, Denmark and Germany.
It will be the first manufacturing plant of its kind for Siemens’ next generation blade technology, which will be designed for Siemens’ SWT-6.0-154 6 megawatt wind turbines with rotor blades 75 metres long. The Siemens announcement underlines the critical role that the Humber Region plays in servicing the UK’s energy needs, both today and in the future. Opportunities exist to invest in Green Port Hull to ensure this exciting new industry achieves its full potential.
As the UK’s renewable energy sector takes off, the Humber Estuary is growing in importance due to its proximity to some of the largest offshore wind farms located off the east coast of the UK. Most are within 12 hours sailing time from Hull, which is one of the three ports on the Humber Estuary.
The Siemens project is now under construction and is expected to be operational next year.
Good investment ops
The UK enjoys a good reputation for operating stable and predictable policy regimes to support investment in renewable electricity infrastructure.
Consequently, industry and the government are working together to build a competitive and innovative UK supply chain that delivers and sustains jobs, exports and economic benefits for the UK.