No Result
View All Result
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions
Smart Investment Today
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Smart Investment Today
No Result
View All Result
Home Investing

Steel industry urges government to choose British in offshore wind expansion

by
December 27, 2024
in Investing
0
Steel industry urges government to choose British in offshore wind expansion
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

The UK steel industry is urging the government to commit to buying British steel as part of the country’s planned offshore wind power boom.

Wind energy now accounts for almost a third of the UK’s electricity generation, yet less than 2% of the steel used in offshore wind projects during the past five years has come from domestic mills, according to consultant Lumen Energy & Environment.

A new government steel strategy is expected this spring from business secretary Jonathan Reynolds, who aims to expand UK steel manufacturing capacity and capability against a backdrop of costly decarbonisation pressures. Gareth Stace, chief executive of industry body UK Steel, argues that prioritising British-produced steel for the UK’s rapidly growing offshore wind sector would strengthen domestic supply chains and deliver wider economic benefits.

Demand for UK windfarm steel is forecast to top 1m tonnes per year on average from 2026 to 2050, peaking at more than 2m tonnes—a marked leap from the 300,000 tonnes currently used annually. Most future demand, however, will be for plate steel, which is not produced at scale in Britain. Industry leaders say investment in new facilities hinges on government policies that favour local manufacturing over imports.

Stace contends that this approach would help reverse the sector’s decline and encourage steelmakers to invest, while also recognising the value of keeping such large-scale spending within the UK. He has called on ministers to regard British steel “by default” in public procurement decisions.

Government efforts to bolster domestic steel include a £2.5bn support package, some of which has been earmarked for projects such as replacing traditional blast furnaces with electric arc furnaces at plants in Port Talbot and Scunthorpe. Nevertheless, factories assembling turbine components in Newcastle and building monopiles in Teesside still rely on imported steel plate, highlighting the importance of a cohesive industrial strategy that boosts UK capacity.

Read more:
Steel industry urges government to choose British in offshore wind expansion

Previous Post

Over 4,000 Brits tucked into their tax return on Christmas Day

Next Post

Labour backs £15m rescue fund to tackle food waste and feed those in need

Next Post
Labour backs £15m rescue fund to tackle food waste and feed those in need

Labour backs £15m rescue fund to tackle food waste and feed those in need

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • Trending
    • Comments
    • Latest

    Gold Prices Rise as the Dollar Slowly Dies

    May 25, 2024

    Richard Murphy, The Bank of England, And MMT Confusion

    March 15, 2025

    We Can’t Fix International Organizations like the WTO. Abolish Them.

    March 15, 2025

    Free Markets Promote Peaceful Cooperation and Racial Harmony

    March 15, 2025

    Teneo.ai Enhances Teneo 8 by Introducing AI-Powered Healthcare Agents for Secure and Compliant Automation of PII with GDPR and HIPAA Standards

    0

    Ana-Maria Coaching Marks Milestone with New Book Release

    0

    The Consequences of California’s New Minimum Wage Law

    0

    Memorial Day

    0

    Teneo.ai Enhances Teneo 8 by Introducing AI-Powered Healthcare Agents for Secure and Compliant Automation of PII with GDPR and HIPAA Standards

    November 7, 2025

    “Dartmoor Zoo Welcomes Arrival of Critically Endangered Amur Leopard Cub, Born to Rare Breeding Pair Freddo and Lena”

    November 7, 2025

    TeamSystem boosts presence in Türkiye with two acquisitions in the Mediterranean region

    November 7, 2025

    “Starling enhances business banking services in preparation for HMRC’s ‘Making Tax Digital’ implementation”

    November 7, 2025

    Recent News

    Teneo.ai Enhances Teneo 8 by Introducing AI-Powered Healthcare Agents for Secure and Compliant Automation of PII with GDPR and HIPAA Standards

    November 7, 2025

    “Dartmoor Zoo Welcomes Arrival of Critically Endangered Amur Leopard Cub, Born to Rare Breeding Pair Freddo and Lena”

    November 7, 2025

    TeamSystem boosts presence in Türkiye with two acquisitions in the Mediterranean region

    November 7, 2025

    “Starling enhances business banking services in preparation for HMRC’s ‘Making Tax Digital’ implementation”

    November 7, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 smartinvestmenttoday.com | All Rights Reserved

    No Result
    View All Result
    • News
    • Economy
    • Editor’s Pick
    • Investing
    • Stock

    Copyright © 2025 smartinvestmenttoday.com | All Rights Reserved