No Result
View All Result
Success American Investors
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Success American Investors
No Result
View All Result
Home Investing

Britain Urged to Triple Offshore Wind Farm Construction Pace

by
June 7, 2024
in Investing
0
Britain Urged to Triple Offshore Wind Farm Construction Pace
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Britain must accelerate the construction of offshore wind farms threefold to meet its crucial decarbonisation targets, according to a leading think tank, the Institute for Public Policy Research (IPPR).

The government has set an ambitious goal of achieving 50 gigawatts (GW) of offshore wind capacity by the end of this decade, a significant increase from the current 15GW. However, IPPR’s analysis suggests that, at the current rate, the target will not be reached until 2048.

Increasing offshore wind capacity is essential to meeting the government’s objective of decarbonising the electricity system by 2035. Labour has set an even more ambitious target of achieving net zero by 2030.

Despite having one of the most mature renewables industries globally, Britain has fallen behind other European nations in developing the manufacturing capacity for key wind supply chain components. The IPPR report claims that if Britain had fully exploited its potential for wind installation, it could have generated an additional £30 billion between 2008 and 2022, matching the efforts of countries like Spain and Germany.

Simone Gasperin, an associate fellow at IPPR, commented: “The UK has missed out on becoming a world leader not just in wind power but also in wind manufacturing. This has cost thousands of jobs, billions for the economy, and is putting future net zero targets for wind deployment at risk.”

To reduce import dependence and revitalize its manufacturing industry, the UK needs to produce more wind components domestically. The think tank recommends the construction of at least one additional blade factory, two nacelle and tower factories, and two extra foundation factories within the next five years.

An investment of £3.2 billion in British manufacturing facilities could create tens of thousands of direct and indirect jobs, particularly benefiting small and medium-sized businesses, according to IPPR.

The urgent need for Britain to step up its offshore wind efforts is not just about meeting environmental targets but also about maintaining economic competitiveness and securing energy independence. As other European countries forge ahead, the UK must act swiftly to ensure it does not fall further behind.

Read more:
Britain Urged to Triple Offshore Wind Farm Construction Pace

Previous Post

Ikea to Hire Virtual Staff for £13 an Hour in Roblox Metaverse Store

Next Post

Institute of Directors Introduces Code of Conduct for Business Leaders

Next Post
Institute of Directors Introduces Code of Conduct for Business Leaders

Institute of Directors Introduces Code of Conduct for Business Leaders

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest
Vertica: The new Israeli start-up challenger to Viagra proving ‘life-changing’ for men with ED

Vertica: The new Israeli start-up challenger to Viagra proving ‘life-changing’ for men with ED

February 14, 2024
Idaho Bucks Managed Care Trend

Idaho Bucks Managed Care Trend

December 5, 2023

The Producer Price Index

September 9, 2023

CMKE Introduces PPM Subscription Model to Drive Cost Savings for Scottish Businesses

November 9, 2023
Friday Feature: MCP Academy

Friday Feature: MCP Academy

0

0

0

0
Friday Feature: MCP Academy

Friday Feature: MCP Academy

May 9, 2025

P.T. Bauer’s Reminders on Foreign Aid

May 9, 2025
Luna Introduces PATRIOT Act Repeal Bill

Luna Introduces PATRIOT Act Repeal Bill

May 9, 2025
In Congress, a Move To Strip Courts of Contempt Powers

In Congress, a Move To Strip Courts of Contempt Powers

May 9, 2025

Recent News

Friday Feature: MCP Academy

Friday Feature: MCP Academy

May 9, 2025

P.T. Bauer’s Reminders on Foreign Aid

May 9, 2025
Luna Introduces PATRIOT Act Repeal Bill

Luna Introduces PATRIOT Act Repeal Bill

May 9, 2025
In Congress, a Move To Strip Courts of Contempt Powers

In Congress, a Move To Strip Courts of Contempt Powers

May 9, 2025

Disclaimer: SuccessAmericanInvestors.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 SuccessAmericanInvestors. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 SuccessAmericanInvestors. All Rights Reserved.