More than half of £50bn wind farm cash to go overseas
Credit: British companies to lose ‘green revolution’ work to foreign rivals | Emily Gosden, Energy Editor | The Times | Monday November 23 2020 | www.thetimes.co.uk ~~
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Britain is forecast to miss out on more than half of the £50 billion investment in building offshore wind farms in its waters this decade, with the majority of orders for turbines and other equipment expected to go to factories and suppliers overseas.
A commitment to quadruple UK offshore wind capacity by 2030 was one of the key policy proposals outlined by Boris Johnson in his ten-point plan last week to cut emissions and create jobs. However, government figures predict that only about £20 billion of the investment will go to Britain.
Energy companies are expected to need to invest about £50 billion building new wind farms to hit the 2030 target. Although Britain has two blade factories, in Hull and on the Isle of
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