Siemens and Associated British Ports to invest £310m in UK wind turbines

Siemens and the UK’s Associated British Ports are set to invest £310m in UK wind turbine factories.

Siemens is investing £160m, doubling its previous promise to pitch in £80m. Associated British Ports is investing £150m in the project.

The BBC reports that the investment will be made in two locations: the Green Port project in Hull and a manufacturing facility in Paull in East Yorkshire. The project is expected to create up to 1,000 jobs.

Siemens said the UK “recognises the potential of offshore wind energy”.

“We invest in markets with reliable conditions that can ensure that factories can work to capacity,” said Michael Suess, head of Siemens’s energy sector.

Energy Secretary Ed Davey said: “This is great news for Hull, it’s great news for the UK”

“The British energy policy creates a favourable framework for the expansion of offshore wind energy. In particular, it recognises the potential of offshore wind energy within the overall portfolio of energy production.”

Follow us @LondonlovesBiz and try our free newsletter

Follow us on LinkedIn

Now read:

Co-op Bank must raise another £400m

Social Bookmarks