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UK to Miss 2030 Offshore Wind Target by 18 Years: IPPR

POWER
Homepagemarkets-real-timeBulletUKBank Of England (BOE) Market News

The UK will miss its 2030 offshore wind target of 50GW by about 18 years due to the slow pace of manufacturing and installing offshore wind farms, according to the Institute for Public Policy Research (IPPR).

  • The UK needs to triple the rate at which it installed offshore wind farms, the IPPR said. And won't meet its 2030 target until 2048.
  • Despite its large offshore wind capacity, the UK fails to be the top three in the EU for manufacturing blades, towers, foundations, cables, etc, according to IPPR.
  • The IPPR also stated that the UK should build at least 7 factories for offshore wind components in less than 5 years to meet its target and support the economy – an investment of around £3.2bn.
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The UK will miss its 2030 offshore wind target of 50GW by about 18 years due to the slow pace of manufacturing and installing offshore wind farms, according to the Institute for Public Policy Research (IPPR).

  • The UK needs to triple the rate at which it installed offshore wind farms, the IPPR said. And won't meet its 2030 target until 2048.
  • Despite its large offshore wind capacity, the UK fails to be the top three in the EU for manufacturing blades, towers, foundations, cables, etc, according to IPPR.
  • The IPPR also stated that the UK should build at least 7 factories for offshore wind components in less than 5 years to meet its target and support the economy – an investment of around £3.2bn.