Liebreich Praises UK Offshore Wind “Success Story”

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Renewable energy in the UK is steadily growing – almost a quarter of the country’s electricity now comes from renewables. Michael Liebreich, leading international advocate of renewable energy and Founder of Bloomberg New Energy Finance, said the UK’s progress in the sector is “a huge success and should be celebrated as such”. Mr Liebreich spoke at RenewableUK’s Global Offshore Wind Conference in Manchester, commending the industry’s sustainable cost management.

Mr Liebreich told the wind industry: “You have been very good at managing costs. There has been good progress on cost reductions. Above all to succeed as an industry you need to get cheap fast. All credit to the industry for being ambitious on getting costs down.”

He described the UK as “the only European country to attract increasing amounts of investment in clean energy year on year – and in record amounts”, and noted that “offshore wind accounts for half of the UK’s record investment, making it the success story”.

Offshore wind is bringing more than £20 billion in investment to Britain in this decade – much of it to the most economically deprived areas of the UK.