Britain Pledges $100 Million to Boost Offshore Wind Power (2)



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Bloomberg Businessweek

The U.K., the world’s largest offshore-wind market, pledged funds to increase jobs in the industry sevenfold in a bid to spur economic recovery.

The government will commit 66 million pounds ($100 million) to expand the offshore-wind supply chain and finance research to curb costs, according to a strategy by Deputy Prime Minister Nick Clegg and Energy Secretary Ed Davey. The industry growth may add 7 billion pounds a year to the economy by 2020.