The Courier & Advertiser (Fife Edition)
Hopes offshore renewables will support 150,000 jobs
OFFSHORE renewables could be worth £6.7 billion and help support 150,000 jobs by 2020, according to a new report.
The study by the Offshore Renewable Energy (ORE) Catapult, which officially opened its new HQ in Glasgow yesterday, found the sector could provide significant future economic benefits for the UK but warned they could only be achieved if UK firms moved to accelerate the path to growth.
The document states that, in high- growth mode, total generation capacity in UK waters could reach 15GW by 2020 and employ 34,000 people directly and a further 100,000+ in the supply chain.
But if growth proved more gradual, with capacity reaching 8GW by the end of the decade, the sector would be worth £ 2.3bn and support 100,000 fewer jobs.
Last year offshore wind power provided 3.6% of the UK’s electricity supply. It contributed £1bn to the economy and supported 20,000 jobs, including 5,000 directly.
The report said the economic benefits of a larger offshore renewables sector had the potential to provide a significant boost to UK GDP.
“We have the industrial base, research capability, regulatory framework and supply chain to continue to prosper and lead,” said ORE Catapult CEO Andrew Jamieson.
“This report clearly demonstrates the significant potential economic value of offshore renewables, and why it is worth the investment now to develop and grow sustainable industries delivering energy from our offshore natural resources.”