Fallon pledge for offshore wind

Business and energy minister Michael Fallon will today announce a new government organisation for funding the development of offshore wind power. The Offshore Wind Investment Organisation will be described as “an important part of our industrial strategy for the sector” and has pledged an initial £2m to three projects. “Offshore wind is a major success story for the UK, and we want to boost levels of inward investment,” Fallon will say. The government estimates that offshore wind will be worth £7bn by 2021.