15 May 2012

Foster Highlights Offshore Energy Opportunities

Enterprise Minister Arlene Foster has encouraged local companies to grasp the opportunities offered by the offshore renewable energy sector.

The Minister was speaking at an event organised by Invest Northern Ireland and The Crown Estate which briefed over 300 business people on developments in the offshore renewable energy sector and the commercial opportunities available in renewable energy markets.

The Minister said: "Offshore energy is a growing market and opportunities in the Irish Sea region alone are currently valued in excess of £17billion for areas under licence from The Crown Estate. This is set to increase when licences for installation of wind and tidal technologies in Northern Ireland waters are announced later this year.

"This offers an excellent opportunity for Northern Ireland in many areas – energy security and diversity; climate change mitigation; a contribution to our 2020 renewable electricity targets and the business supply chain opportunities for local companies over the next few years as projects come on stream and Northern Ireland becomes an attractive base for international renewable energy companies.

"The business opportunities are numerous, ranging from precision engineering, design services and environmental surveys to maintenance, accommodation, transport, crew and labour requirements.

"I would encourage businesses to explore opportunities in the supply chain either on their own or in collaboration with others."

(CD/GK)