240m investment a massive vote of confidence in Norfolk renewables

North Norfolk MP Norman Lamb has welcomed today s announcement of a 240m investment by the UK Green Investment Bank in Scira Offshore Energy Limited, the owner of Sheringham Shoal offshore wind farm.

The 317MW offshore wind farm off the coast of North Norfolk has been operating for two years, and generated over 1.1 TWh of net renewable electricity annually enough to meet all of Norfolk s domestic electricity demand.

The investment is part of the UK Green Investment Bank s (GIB) strategy of strengthening the UK offshore wind sector by helping developers recycle their capital into new projects, and attracting new investors.

By acquiring a 20% stake in Scira, the GIB will enable Sheringham Shoal developers Statkraft and Statoil to recycle capital into other UK projects such as the Dudgeon offshore wind project planned off the coast of Wells next the Sea.

Commenting on the news, Norman Lamb said,

Today s announcement of 240m UK investment in Scira is a massive vote of confidence in Norfolk s renewable energy sector.

Scira have made a real investment in building up local expertise and infrastructure here in Norfolk, and I am pleased to see that recognised.

Sheringham Shoal has now directly created over 100 full-time jobs in Norfolk, as well as bringing valuable investment to other local businesses in towns like Wells.

Britain has a real challenge ahead as we work to reduce our dependency on polluting fossil fuels and secure our future energy supply, and I know that Norfolk s offshore wind generation industry has a crucial role to play in that, bringing jobs and growth to our community.

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240m investment a massive vote of confidence in Norfolk renewables

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