Energi Coast has warned the Government’s delay on announcing levels of financial support for renewable energy will put jobs and investment at risk.
It was announced yesterday that the Renewables Obligation (RO) banding levels of government funding, which were originally expected to be set in the spring and again before this summer’s parliamentary recess. Unfortunately, no announcement was made while more discussions take place.
Energi Coast represents North East England’s renewables supply chain and is guided by a steering group of more than 20 of the region’s leading offshore renewables businesses. These companies have already invested more than £400m in their Renewables operations and employ in excess of 6,500 in the industry today.
Alex Dawson, Chairman of Energi Coast, said: “Further delays to a Government announcement will have a negative effect on any potential investment in the offshore wind market. The Government continually talks about the UK manufacturing its way out of recession, however it is failing to take advantage of one of the key sectors that has the skills and capabilities to drive that growth.
“The industry has done everything it can to prepare for the growth in the market; in North East England alone, hundreds of millions have been invested by companies that have the products, skills and services to meet the requirements of offshore wind. These companies are already winning contracts in the sector and are demonstrating that the supply chain is poised for the next stage of development in the market.
“However, we cannot afford the continued impact government indecision is having on investor and developer confidence otherwise the potential for an industry that can become a key part of both the UK energy mix and the country’s economy will be severely diminished.”
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Offshore WIND staff, July 18, 2012; Image: energicoast