UK renewables firms earning billions in export deals

But Britain needs to “act swiftly” to benefit from the $290 billion global market

British renewables companies are winning billions of pounds in export contracts, according to a new report.

The report, published today by RenewableUK, reveals that last year an illustrative sample of 36 UK-based companies won more than 500 contracts to work on renewable energy projects in 43 countries, worth between £50,000 and £30 million each.

The trade body estimates the total value of these contracts is in the region of several billion pounds.

According to the report, these companies are now “well placed” to benefit from this international market, which is worth around $290 billion.

The executive director of RenewableUK, Emma Pinchbeck, said Britain needs to “act swiftly to retain this competitive advantage” or other nations “will capitalise on the hard work our businesses have done to build opportunities”.

The companies featured in the report include the Glasgow-based firm Gaia-Wind, which is exporting small onshore wind turbines as far afield as Tonga and JDR Cables, which is manufacturing massive subsea power cables in Hartlepool for German offshore wind farms.

The report also highlights the how energy consultancy firms are exporting their knowledge around the world.

One example is ITPEnergised, which has offices in Bristol, Edinburgh, Glasgow and London, and won contracts last year in Canada, Taiwan and India.

“This year, as part of its industrial strategy, the government will be looking to identify and support world-leading, innovative industries with global trade potential,” added Pinchbeck.

“This report shows that the UK’s wind and marine energy sectors can offer much to the government’s industrial strategy. Britain must secure its position as a leading exporter in tomorrow’s global energy market.”