The government has announced two major new investments, one of which will see a new technology and innovation centre being formed. Business secretary Vince Cable has confirmed that a competition will take place to create the centre, which will focus on offshore wind, wave and tidal power technologies. This new investment into the country’s renewable energy sector is good news for UK contractors, as the energy and related environmental fields are given increasing focus by the government.
Commenting on the new initiative, Vince Cable said, “In creating an Offshore Renewable Energy technology and innovation centre we are taking the next step to transform the UK into a low carbon economy. There is a clear opportunity for the government to support the UK’s offshore industry and this centre will be of great benefit to the sector and the economy. The government is committed to greening the economy – and despite the difficult financial challenges we face, we have already achieved a great amount, such as a vision for a Green Investment Bank and a commitment to world leading carbon reduction.”
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