New survey finds confidence is high in offshore wind

By: Mark Casey 11/12/2023 ORE Catapult

General Windfarms

The Offshore Renewable Energy (ORE) Catapult’s latest Offshore Wind Supply Chain Confidence Survey, has been released released has found that confidence within the offshore wind sector remains high, despite a challenging 12 months.

The survey revealed companies within the UK’s offshore wind sector remain confident of growth in both revenue and employment over the short, medium, and long term, although overall confidence has declined since last year’s survey, reflecting tough market conditions.

The UK Government’s announcement of a significant increase in the administrative strike price for the next CfD Allocation Round 6 (AR6), reflecting cost pressures and a lack of offshore wind projects bidding in the AR5 auction, has been well received by the industry.

ORE Catapult Chief Executive Andrew Jamieson, said: “Ambitious national deployment targets and a large pipeline of projects support a high degree of confidence in continued growth within the UK’s offshore wind industry over the coming years. That’s fantastic news and will ensure that we maintain the UK’s standing as a frontrunner in global offshore wind.”

“The UK Government’s recent AR6 announcement reflects its commitment to the sector and the pivotal role that offshore wind must play in achieving Net Zero.”

RenewableUK’s Chief Executive Dan McGrail said: “The industry estimates that the offshore wind supply chain could boost the UK's economy by £92 billion by 2040, and the confidence demonstrated in the survey demonstrates we’re on the right track.”

For more information about offshore wind farm projects across the globe, click here.

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New survey finds confidence is high in offshore wind

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