Cable announces green tech investment

26.05.11

Vince Cable, Business Secretary, has launched a competition to develop an offshore renewable energy technology and innovation centre (TIC). The centre will focus on technologies for offshore wind and hydro power.

The Government has pledged more than £200 million over the next four years into the project, aiming to build at least six of these centres. They will help businesses to capture a share of the global renewables market by commercialising the use of these technologies.

Vince Cable said:

"In creating an Offshore Renewable Energy technology and innovation centre we are taking the next step to transforming the UK into a low carbon economy. There is a clear opportunity for the Government to support the UK's offshore industry and this centre will be of great benefit to the sector and the economy."

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