Cheap energy offshore wind industry 'must be de-risked' - 02/07/2010
The risks involved in the cheap energy offshore wind industry need to be reduced, the Carbon Trust has said.
The environmental organisation said the sector offers a "terrific investment opportunity" but the industry and the government needs to find ways to de-risk this investment.
Speaking at the RenewableUK Offshore Wind 2010 event in Liverpool, Michael Rea, chief operating officer at the Carbon Trust, pointed out that the offshore wind sector offers a big opportunity for the UK specifically in terms of job creation, development and carbon reduction.
However, a funding gap is likely to emerge within the next five to ten years, so the industry must think creatively about ways in which to increase finance.
"There may well be a good case to look at an investment bank to help de-risk investment and scale in the sector," Mr Rea said.
He suggested that one of the key things that could really help to unlock the sector is specifically to reduce the cost of offshore wind.
If you want to find out more about your energy options and how you could save up to £378 in minutes, click here.
Save up to £300 on your gas & electricity bills at energyhelpline.com
Compare prices from all energy suppliers to find your best deal