£460m boost for UK offshore wind farm projects

Offshore wind has been given a boost with news of investment worth £460m in projects aimed at generating power for hundreds of thousands of homes

Anna Gowthorpe/PA Wire An offshore wind farm
An offshore wind farm

Offshore wind has been given a boost with news of investment worth more than £460m in two projects aimed at generating power for hundreds of thousands of homes.

The Green Investment Bank said it was buying a 50% stake in the Westermost Rough wind farm off the coast of East Yorkshire and a 10% stake in the Gwynt y Mor project off the coast of North Wales.

The Welsh wind farm is the biggest of its kind under construction in Europe and, once operational, will eventually generate enough electricity for 400,000 households.

Westermost Rough, in the early stages of construction, will use turbines almost twice the size of most of those operating in UK waters, and will generate enough power for 200,000 homes.

Shaun Kingsbury, chief executive of the Green Investment Bank, said: “The UK has ambitious plans to build on its position as a world leader in offshore wind.”

Business Secretary Vince Cable said: “The Green Investment Bank is playing a game-changing role in financing our transition to a green economy.

“This industry has the potential to generate thousands of new skilled jobs and billions in business investment.”

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