More state subsidies than previously planned
Offshore wind farms have received a boost after the government announced that the farms will be more subsidised than previously planned.
While the amount of state aid to offshore wind energy will decline over the next five years, it will be cut less and more gradually than had been planned.
Deputy Prime Minister Nick Clegg said: ‘Investing in green energy boosts growth and creates jobs – the offshore wind sector alone could provide up to 60,000 jobs in this country by 2020.
‘Supporting clean, green, secure energy is the right thing to do for both the environment and the economy. Today’s announcement makes clear the government’s commitment to supporting long-term investment in the UK’s renewables industries.’
Under the plans, revealed today by energy and climate change secretary Chris Huhne, financial support for tidal and wave energy will also be more than doubled.