Siemens hikes investment in UK wind energy projects | Business| Economy and finance news from a German perspective | DW | 25.03.2014
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Siemens hikes investment in UK wind energy projects

Engineering group Siemens has said it will boost investment in British wind energy projects, creating about 1,000 new jobs there. The German group says it has come to cherish Britain’s ‘reliable’ wind energy policy.

Siemens was planning to invest 190 million euros ($263 million) in two new production facilities in Great Britain, the German engineering conglomerate announced Tuesday.

Siemens' UK-based partner Associated British Ports would spend another 150 million pounds (178 million euros) in the new sites, which included a new logistics center in Green Port Hull and a rotor blade factory in Yorkshire, Siemens said

The two projects would create about 1,000 new jobs in Britain, the company added.

"Our decision to construct a production for offshore wind turbines in England is part of our global strategy to invest in markets with reliable conditions that can ensure that factories can work to capacity," Siemens Energy Sector Chief Executive Michael Süss said in a statement.

Süss also noted that British energy policy created a favorable framework for offshore wind energy, ensuring high growth rates with even greater potential for the future.

Watch video 04:06

German offshore wind power under pressure

Britain's wind power capacity has doubled within two years. By 2020, current offshore wind power generation of 10 gigawatts is to be boosted to 14 gigawatts, with capacity of more than 40 gigawatts being in the phase of long-term planning.

British Prime Minister David Cameron said UK energy policy was aimed at providing new jobs for the wind power industry and ensure a reliable and sustainable energy mix.

"This investment is going to create lots of new jobs and opportunities, meaning more financial security and peace of mind for families and a more resilient economy," he added in a statement.

Britain is one of the world's biggest offshore wind energy producers and supports the construction of new wind farms through a guaranteed electricity price mechanism.

Siemens said production at Green Port Hull was scheduled to begin in 2016, and that rotor blades for its largest 6-megawatt turbine model would be manufactured there.

uhe/kms (Reuters, AFP)

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