Wind Energy
Te environmental and renewable energy sector is thriving in Cornwall
The environmental and renewable energy sec- tor is thriving in Cornwall, with huge renewable energy potential, due to its geographical posi- tion and wind, wave and tide factors all con- tributing favourably to this prosperous industry. It is anticipated that 2012 will be a significant year for the offshore wind industry with poten- tially 5 farms becoming operational.
This
growth in the wind power industry is expected to continue in the UK.
In 2010, RenewableUK, the trade and pro- fessional body for the UK wind renewables in- dustry, estimated that more than 2,000 megawatts of wind capacity would be used every year for the next five years. It is hoped by 2020 that this will increase to 28,000 megawatts of capacity, making the UK the world's largest offshore wind market. We need to act quickly to preserve our environment, and using renewable energy only stands to reason. Wind farms command no fuel because the wind is freely obtainable and luckily for us the UK is the windiest country in Europe, boasting 40% of the total European wind resource. The UK’s wind supply could provide the country’s electricity needs 8 times over, but currently wind power only provides a meek 0.6% of electricity supply. By 2020, it is hoped that Britain will generate 15% of its energy from various renew- able means, with wind being a major resource. It is time to get your business involved and help reach these optimistic expectations! While many countries debate and discuss
‘green’ energy, taking a backseat in any actual activity, Cornwall has long been established in the driving seat of this sector. It has persistently been promoting this field and continues to be the main port of call on renewable energy. Even
New European Economy
back in 1991, Cornwall was winning the race, when it was the first area in the UK to open a commercial onshore wind farm, Delabole Wind- farm. Cornwall is still in first place, with two big scale off-shore sites nearby, interesting supply chain prospects and local government dedica- tion to wind power production. Workforce availability is a major factor when talking FDI. What does Cornwall have to offer? Cornwall has access to a large employee talent pool, with a highly educated workforce avail- able. Recently there has been a huge influx of young, progressive and highly skilled people into Cornwall, so your company will not be left wanting. With a population of 535,300, Corn- wall is an ideal spot for investment with large employee potential. It is a creative, innovative location, that attracts a huge variety of people and frankly, people want to live here. Employee retention then will not be a cause for concern. What financial and government led assis- tance is available for FDI in Cornwall? In 2007, ERDF Convergence funding, a £500 million programme, strengthened the Cornish economy, and the economy has continued developing. There are numerous incentives for companies to invest in Cornwall and to set up their operations here. Invest in Cornwall, promotes FDI, sup- porting companies and investors with business opportunities to start up their business. They will support the entire process by providing infor- mation on FDI assistance and financial help. They are big advocates of FDI and have set up a programme in 2011 hoping to generate 4 new US investments by June 2012. Invest in Corn- wall have also introduced a Soft Landings pack- age to entice FDI into the area and to assist with relocation, offering rent allowances, grants and
funding assistance. They provide assistance for investors to visit the area and aid in setting up the foreign operations. This is just one of the nu- merous agencies in place to aid FDI. UK Trade & Investment, (UKTI), is a gov- ernment run agency, formed in 1999, that offers free support and independent advice to any for- eign investment entering the UK. UKTI will en- deavour to help your business succeed and build alliances with overseas companies. Also, the standard rate of corporation tax in the UK is 24%, reducing to 22% by April 2014. This is just one example of how the UK is facilitating for- eign investment.
While it is likely that there may be some local
opposition to wind farms in Cornwall, due to the depreciation of land and housing located near the structures, noise pollution and fears that it would affect the county's tourism trade, the gov- ernment is fully supportive of increasing the wind sector, with incentives, support and advice readily available for FDI’s in this industry. Cur- rently there are plans to spend £16 million erect- ing numerous wind turbine farms across the county. This sector is not going anywhere fast. Currently, there are numerous onshore wind farms in operation in Cornwall, including St Breock, Bears Down and Four Burrows to name just a few. These were developed by E.ON Re- newables, RWE npower renewables (part of RWE Innogy) and RES respectively. Join these inter- national companies and expand your business in Cornwall to reap the benefits that it offers. Invest in Cornwall…
..it is much more than a tourism county. The wind power industry is thriving and a key sector for investment. But whatever you do, please don’t build a wind tur- bine in my back garden……
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