UK Tory Government to Invest £160m on Offshore Wind



The British government decides to make the country a leader in the generation of low-cost green energy, which will be more profitable than coal and gas. This was stated in a 30-minutes speech by British Prime Minister Boris Johnson, which he delivered at an online convention of the ruling Conservative Party.

PM pledges that every home in the UK will be powered by offshore wind in a decade.

According to Johnson, the government intends to actively invest in green projects after combating the COVID-19 pandemic. In particular, the government intends to invest £160 million ($208 million at current exchange rates) in the development of offshore wind power.

Johnson went on to confirming his electoral promise made in 2019 to bring the total installed capacity of offshore wind farms in the UK from 10.5 GW to 40 GW by 2030 boosting the government’s previous 30GW target.

PM compared the UK’s resources in offshore to those of Saudi Arabia’s oil wealth.

Johnson noted that public and private investments in offshore wind alone will create 60,000 jobs, and the transition to green economy could potentially provide jobs for millions of British people.