British manufacturing investments offshore reach record high

Recent data published by non-profit trade association RenewableUK indicates that investment announcements from the United Kingdom’s offshore wind industry concerning new factories already exceeds £900 million this year.

This impressive figure marks offshore wind’s highest annual sum since the industry first launched in the UK back in 2000.

The new findings were highlighted on day one of the not-for-profit renewable energy trade association’s Global Offshore Wind exhibition and conference that took place in London.

The convention followed news revealed by JDR Cables of its plans to construct a brand-new factory in Cambois close to Northumberland’s Blyth. The site will create 170 jobs in an investment worth £130 million, a move that will also protect 270 jobs at the manufacturer’s plant based in Hartlepool.

Back in March, renewable energy company GE unveiled its own multi-million plans to convert a former steelworks in Teesside, transforming it into an cutting-edge plant to produce wind turbine blades, creating 750 new jobs. In July, DeAH Wind and Smulders Projects UK both announced major investments in offshore wind of £260 million and £70 million respectively.

Additionally, Siemens Gamesa announced in August an investment of £186 million effectively doubling its Hull turbine blade factory.

UK consumers interested in offshore assets will find expert investment advice in Shropshire and Cheshire from wealth management firms. Wealth managers are able to supply guidance and an unbiased opinion on potential investments, helping their clients build resilient portfolios that can weather market fluctuations.

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