| Investment funds 'needed for offshore wind' 27 Jul 2010 - 10:2 | << Back |
According to a report released yesterday (July 26th) by PricewaterhouseCoopers (PwC), funding in the market is currently being adversely affected by reforms to the sector following the global economic downturn.
This means that developers now require cumulative funding of 10 billion every year in order to meet the targeted figure of a renewable generation of 30 per cent within the next ten years.
The analysis goes on to state that offshore wind plays a "make or break" role in the country's renewable energy strategy, but, last year, less than half of the annually required roll out rate of this source of energy was achieved.
Meanwhile, Nick Medic, head of communications at RenewableUK, said recently that the growth in the number of green energy options being taken up in Britain will benefit the nation's economy as well as its environment.
