Offshore wind is going to play a central role in the UK’s energy and industrial future in the 21st century. The UK has one of the richest offshore wind resources in the world. Turbine installation will continue apace, heading for 30, 40 or 50 GW in the next two decades.
Research carried out by Transition Economics for Labour Energy Forum reveals the first breakdown of the UK’s offshore wind by country and ownership status:
Out of 10.4 GW of offshore wind (operating and under construction)
- 92.7% is owned by non-UK entities
- 7.3% is owned by UK entities (excl GIB)
- 51.2% of UK offshore wind is publicly-owned
- 0.07% is owned by UK public entities
“Who Owns the Wind, Owns the Future” lays out how public ownership of the UK’s offshore wind can
- Speed up deployment of offshore wind
- Help deliver a Just Transition for workers and communities
- Capture the value offshore wind creates for the British public, including residents, firms and workers
- Revitalise UK industry and create institutions to drive industrial strategy
- Minimise costs to energy users, including households and industry
21st century public ownership of wind means a diversity of institutional forms, accountable to local residents, able to support and shape local economies, deliver energy justice and accelerate the transition.
We recommend that devolved governments, councils and central government co-operate to set up the most appropriate entities to invest into, develop, build and/or maintain offshore wind farms.