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UK Govt. To Invest In Renewables

Vince Cable and Nick Clegg by the budget_1

The UK government’s business secretary Mr Vince Cable has unveiled a competition designed to establish an Offshore Renewable Energy technology and innovation centre focusing on offshore wind, wave and tidal power.

Committing over £200 million over the next half decade, the government wants to build at least six technology and innovation centres to allow businesses to leverage equipment and expertise that will help them to commercialise and monetise emerging green and renewable technologies.

“The UK is a world leader in offshore engineering and our reputation makes us an excellent location for research in this area. In creating an Offshore Renewable Energy technology and innovation centre we are taking the next step to transforming the UK into a low carbon economy.There is a clear opportunity for the Government to support the UK’s offshore industry and this centre will be of great benefit to the sector and the economy,” said Cable.

“The Government is committed to greening the economy – and despite the difficult financial challenges we face, we have already achieved a great amount, such as a vision for a Green Investment Bank and a commitment to world leading carbon reduction,” he added.

Universities and science minister David Willetts responded to Cable’s comments by saying that, “The government’s continued investment in technology and innovation

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centres ensure the UK stays at the forefront of global

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innovation and technology.”

“It is vital we invest in renewable energy now to gain maximum benefits in the future. There is huge potential for growth in the sector, and the prospect to generate billions of pounds for the economy whilst creating thousands of job opportunities at the same time,” added Willetts.

Bringing the debate into further focus, chief executive of the Technology Strategy Board Iain Gray commented, “Today’s announcement of the Offshore Renewable Energy technology and innovation centre follows earlier announcements about centres in High Value Manufacturing and Cell Therapy. These centres will be a vital part of the UK’s innovation landscape and enable world leading businesses to emerge in these areas.”

In its drive to attempt to create a low carbon economy, the government says will channel monies towards the following areas:

  • Alternative energy generation;
  • Renewable energy infrastructure including wind farms;
  • Energy efficiency; and
  • Water treatment and conservation.
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One Response to “UK Govt. To Invest In Renewables”

  1. Karl Wilson says:

    I agree, the government needs to invest in technology and innovation centres to ensure the UK stays at the forefront of global innovation and technology – lets lead from the front!

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