Windfarm splurge as offshore construction hits record level

Category: 

Wind projects accounted for nearly half the value of UK power schemes in 2016

Offshore windfarm construction hit record levels last year, according to new statistics from Barbour ABI.

The total construction value of offshore wind projects jumped two thirds to £4.1bn in 2016, up from £2.45bn the previous year, according to the data company.

Three projects, the Beatrice, Galloper and East Anglia One offshore windfarms, accounted for a combined £3bn of value. The projects will also generate 1,600 MW of renewable energy per hour.

Offshore windfarms alone accounted for 42% of the value of UK construction contracts in the utilities and power sector in 2016 and 21% of the entire infrastructure sector.

Barbour ABI reported that there are a further £23.2bn worth of offshore wind farm projects in the development pipeline.

Michael Dall, lead economist at Barbour ABI, said the health of the windfarm development pipeline suggested that the sector will see continued growth. He said: “With reports showing that the cost of producing electricity in this way have fallen significantly, the increase in construction value makes sense.”