Offshore Wind Revenues to Help UK’s Flooded Areas

RenewableUK has commented on the announcement by HM Treasury and Department for Communities and Local Government of allocation of the latest round of funding from the Coastal Communities Fund.

The Fund, which was set up in 2012 by the Secretary of State for Communities and Local Government and the Chief Secretary to the Treasury, has now been through several rounds with this latest allocation round worth £27.7 million to 50 projects across the UK. £17 million of this year’s fund went to projects in areas hit by floods, with £5 million from the fund’s reserves going to the Government’s programme for flood recovery.

The grants are funded by the Government from the income from the Crown Estate’s Marine Assets, including the revenue they receive from offshore wind sites.

Nick Medic, Director of Offshore Renewables at RenewableUK commented: “It’s fantastic to see the revenues from offshore wind being put to such good use. Across the UK we’re seeing community enterprises and local tourism facilities given a shot in the arm. The growing revenues from developing the UK’s fantastic offshore wind resource mean this important fund will be able to do more and more over the coming years”.

Mr Medic went on to say: “Offshore wind is a win-win for coastal communities – between 2010 and 2013 the number of direct jobs in the sector doubled, and today over 12,500 people are employed directly or indirectly in the offshore wind sector. As well as the jobs created, it’s also producing revenues for the Crown Estate which then go towards this vital funding.” 

Press release, March 10, 2014; Image: gov.uk