Energy contractors could benefit from a reduction in wind farm costs if it leads to more job opportunities.

Friday 15 June 2012

Posted by Alex Turner

The UK's energy sector could offer more opportunities to limited company contractors as wind farm costs come down.

According to a recently-published report by The Crown Estate, wind farm costs could be cut by as much as 30 per cent over the next decade.

With bigger turbines being built and the improvement of deep water foundations, the costs are set to fall year-on-year.

This is likely to free up money for recruitment, which in turn will lead to new jobs being created for contractors and others working in the sector.

Energy minister Charles Hendry claimed that cost reduction will be is vital if wind energy creation is going to expand in the coming years.

"Offshore wind will be a vital part of a diverse and secure low carbon energy mix in the decades ahead. But we are clear that the costs must come down," he said.

The comments follow the announcement of a recent energy agreement between the UK and Norway that is likely to lead to around 1,600 new jobs being created.

By Victoria McDonnell

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