Thursday, 21 March 2013

London gives offshore wind financial boost
March. 1, 2013

LONDON, March 1 (UPI)--The British government said it was giving offshore wind power a $3.4 million vote of confidence in a move to drive down costs by 25%.

The British Department of Climate Change and Energy Efficiency announced it awarded three companies financial support for offshore wind innovations. London said wind power would help advance a low-carbon economy, adding support for innovation would help the country cut the costs of offshore wind by 25% by 2020.

The funding would support High Voltage Partial Discharge Ltd, and JDR Cable Systems Ltd, improve designs for cable systems tied to offshore wind platforms. Principle Power (Europe) Ltd., meanwhile, is working on a floating-platform system that would eliminate the need for seabed foundations.

"This $3.4 million will give three more companies the boost they need to take their innovative designs to the next level, helping cut costs in offshore wind generation, and ultimately helping us harness more power from turbines out at sea", Energy and Climate Change Minister Greg Barker said in a statement.

The wind announcement follows a decision by the British government to set aside $30 million to support the development of technology used to exploit marine energy. London said marine energy could meet as much as 20% of nationwide energy demand by 2050.