The power of wind energy to attract investment is on the rise both on land and at sea in the UK, with approvals granted for the construction of two large-scale wind farms.
One of the projects, the massive £3.6 billion (AU$5.9 billion), 288-turbine Triton Knoll offshore wind farm, will eclipse the recently opened London Array as the largest operating offshore wind farm in the world. Located off the Lincolnshire and Norfolk coast, the 1.2 gigawatt facility will supply enough clean electricity to power 850,000 UK homes.
On land, the Pen y Cymoedd Wind Farm in South Wales is set to become the largest onshore wind farm in England and Wales.
Vattenfall will spend £400 million (AU$665 million) to build the 76-turbine wind farm, with work scheduled to begin in 2014. The facility will have a generation capacity of 228 megawatts and will supply power to approximately 140,000 homes upon completion in 2016. The company says it will invest £1.8 million (AU$3 million) per year into a local community fund over the life of the wind farm.
The UK government estimates a clean energy jobs bonanza, with the Triton Knoll project alone creating around 1,130 jobs across the country.
“The investments by Triton Knoll Offshore Wind Farm Limited and Vattenfall are testament to the power of inward investment in the UK,” said Secretary of State for Energy Edward Davey.
“We have provided certainty early to onshore and offshore wind investors and now see significant investment decisions being made that will benefit the UK’s economy for years to come.”
These latest projects will certainly prove a windfall for the European wind industry. Latest figures from the European Wind Energy Association (EWEA) show despite a near doubling of offshore wind turbine installations in the first six months of 2013 compared to the same period last year, there are troubling signs that finance for new projects is slowing.
EWEA is calling on EU nations to set regulatory guidelines in place to help the wind sector grow, including a binding renewable energy target for 2030.
