Partner Article

Energy infrastructure investments should provide opportunities for UK

George Rafferty, Chief Executive of NOF Energy, the business development organisation for oil, gas, nuclear and offshore renewables sectors, comments on the Government’s announcement of new support for the building of new nuclear plants and a guaranteed price for offshore wind energy.

The UK Treasury has published guaranteed electricity price for investors, which includes offshore wind, at £155 per megawatt hour in 2014-15 falling to £135/MWh by 1018/19 with the aim of bringing forward 8 to 16 gigawatts of offshore wind capacity.

He said: “The UK has a well-established, technology-led supply chain that has the ability to effectively serve the requirements of an evolving and diversifying energy sector.

“It is important that a strong proportion of the supply chain operations for these projects remain in the UK. As well as playing a key part in the drive towards achieving a balanced and secure energy future for the country, it will also support an important element of UK industry, which is a significant contributor to UK plc.”

He added: “The establishment of a guaranteed price for investors in offshore renewables will provide much-needed confidence in the sector.

“It will help operators execute plans for new developments, particularly Round 3 wind farms, which will provide considerable opportunities for UK supply chain companies, such as those in Energi Coast in the North East that have invested millions of pounds in their operations to gear up for the growth of the offshore wind market.”

This was posted in Bdaily's Members' News section by Recognition PR Business Team .