This sector deal must also be coupled with wider United Kingdom energy policy and we are yet to see if marine renewables and hydrogen gas grid ventures can assist at a scale that will complement and even reduce dependence upon new nuclear and carbon capture gas plants both yet to be developed.
Wind Power Casting Market reports offer detail insights on current market competition worldwide covering top-line vendors list, drivers, and keyword market growth prospects analysed for past and future during 2019 to 2024.
According to WindEurope, the sector deal will set offshore wind capacity on course to reach 30 GW by 2030, up from today's 8 GW. The geographical segmentation of the Floating Offshore Wind Power market has also been covered at length in this report.
Additionally, it "will look to seize on the opportunities presented by the UK's 7,000 miles of coastline, as the industry continues to be a coastal catalyst for numerous UK's former fishing villages and ports", the government statement said.
Although, offshore wind accounts for marginal 0.2% of the global electricity generation, factors such as technology advancement, policy support, and a maturing supply chain are making offshore wind an increasingly viable option for renewables-based electricity generation.
Natural Power is hailing the Offshore Wind Sector Deal agreed by the industry and the government as a major step forward which will generate significant economic benefits for the UK.
It would mean that, for the first time, more electricity is generated by renewables than fossil fuels, with a predicted 70 per cent of power coming from low-carbon sources by 2030.
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"The UK offshore wind sector has been attracting global interest in its development and investment opportunities, and the range of opportunities for investment will only continue and grow as the activity in the sector progresses so impressively over the next few years".
Chris Claydon, chief executive of the ECITB, said: "The ECITB welcomes the Offshore Wind Sector Deal".
This marks a welcome change in tone from the UK Government, moving towards the very supportive tone and already published strategies of the Scottish government for many years - and it would have been good to see more Scottish examples used. This leaves Britain with a big energy gap in the future.
The number of jobs in the offshore wind sector is set to triple, to 27,000, over the next decade. Companies are burgeoning in clusters, creating new centres of excellence in this clean growth boom. Although 84% of the total offshore wind installations are in the European waters, the governments outside the European region, particularly in the Asia-Pacific and North America have set an ambitious target for the installation of offshore wind farms in their respective territorial waters.
"Whilst there's no doubt the offshore oil & gas industry witnessed significant redundancies over the past few years, the introduction of greater offshore engineering opportunities, not just through renewables but also through the general "blue economy", will mean that the engineering professional of the future will be more likely to develop transferable skills that can adapted to nearly any offshore engineering project", he added.
"Renewable power now presents the best opportunity for cheaper, cleaner and faster decarbonisation", executive director John Sauven said.