North East England Companies Invest GBP 400 Million to Become Offshore Renewables Hub (UK)

Posted on Oct 21st, 2011 with tags , , , , , , , , , , , , , , .

North East England Companies Invest GBP 400 Million to Become Offshore Renewables Hub (UK)

A group of 19* of North East England’s leading energy sector companies, including TAG Energy Solutions, have invested almost £400million to help realise the region’s ambition to become a global hub for offshore renewable energy solutions.

The companies have now formed Energi Coast, North East England’s Renewables Group, to promote the extensive expertise of the region’s offshore renewables sector and secure a proportion of the £1billion global market.

Energi Coast companies currently have a combined turnover of more than £200million in the offshore wind sector. This figure is forecast to double as the offshore renewables market expands, which will have a significant impact on the region’s economy and supporting supply chain.

The group’s members currently employ around 6,000 people, which are forecast to grow by 30 percent as Round 3 offshore wind activities gather pace.

North East England is a key strategic location for the offshore renewables sector.

In addition to its integrated and technology-driven supply chain, the geographic location of the region gives it a distinct advantage enabling North East England businesses the ability to quickly and effectively service a significant proportion of the UK Round 3 offshore wind development zones.

Energi Coast, which has been brought together by UK energy sector business support organisation NOF Energy, will promote the wide-ranging capabilities of the region’s integrated supply chain in servicing the offshore renewables market in the UK and internationally.

It will also highlight the benefits of investing in North East England to aid the growth of the offshore renewables supply chain.

Alex Dawson, Chairman of Energi Coast and CEO of TAG Energy Solutions, said: “North East England has the potential to become a global hub for the offshore renewables industry. It is a unique region in terms of geography, experience, infrastructure and technical capabilities.

 ”North East England’s innovative and successful integrated supply chain is technologically-driven and has excellent credentials for delivering large scale projects across the energy sectors.

 ”Having already substantially invested in offshore renewables, the region’s supply chain has signalled it intentions to be a serious player in the global market.”

 George Rafferty, Chief Executive of NOF Energy, said: “The region is home to a collection of extremely innovative and successful companies that have blazed a trail for the North East supply chain in the oil & gas sector and are already expanding their expertise into offshore renewables.

 ”As green energy resources become an established part of the required balanced energy mix, North East England companies have the capabilities to secure a significant proportion of the market, both domestically and globally.”

He added: “Energi Coast will play a serious role in the debate of the cost of renewable energy. A cohesive and collaborative supply chain operating from one geographic location can have an impact on reducing the cost of producing renewable energy for the long-term.”

Source: tagenergysolutions, October 21, 2011

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