06 Apr '11, 6pm

UK To Capture 10% of £170bn Offshore Market by 2050

UK To Capture 10% of £170bn Offshore Market by 2050

In a statement, the organisation, which is funded by the government and private business, said the offshore market would be worth £170bn in 39 years, employing 230,000 people in the UK. Roughly 80% of those jobs will come from exports. Citing a Carbon Trust market study, the agency said offshore wind could generate as much as £10bn in economic activity each year - or £100bn cumulatively between 2010-50 to UK GDP. UK output could make up 10% of global generation levels, which are set to rise to 1150 GW by 2050, the organization added. It said offshore wind farm operation and maintenance procedures, followed by turbine manufacture and installation, will provide the greatest economic contributions. Carbon Trut's director of innovations Benj Sykes said: "This analysis confirms that offshore wind is a strategically important economic asset for the UK that can deliver long term ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2011...

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