Sub-sector Offshore wind
Location United Kingdom
Promoting clean growth
With strong, relatively consistent winds and shallow coastal waters, the UK is recognised as having one of the best wind resources worldwide1. However, the construction and operation of offshore wind farms requires deep technical expertise, extensive market knowledge and a long-term investment horizon. For this reason, these complex clean energy projects have traditionally been developed and owned by utility companies.
MIRA has supported the growth of the UK’s green energy sector since 2005 when it made its first investment in biomass and onshore wind. Following a series of major investments in 2016 and 2017, MIRA has established itself as a trusted partner in the construction and operation of offshore wind farms.
Today, MIRA manages investments in 10 offshore wind farms around the UK – representing approximately 38 per cent of the country’s total offshore wind generation capacity2. With capacity to generate 2,966MW of clean electricity, MIRA’s offshore wind assets have become an important part of the UK energy mix and are helping to prove the viability of the sector’s continued development.
Regenerating coastal communities
The rapid development of the UK’s offshore wind sector in partnership with government has seen the country lead the world in installed generation capacity3. With costs continuing to fall, the technology is expected to represent a third of the UK’s total generation capacity by 20303. MIRA is bringing institutional capital into the sector to facilitate this growth – enabling developers and utilities to recycle capital into new development projects. MIRA’s investments are helping the UK de-carbonise its economy and underpinning the creation of skilled, well-paid jobs in manufacturing, construction, maintenance and operations.
Attracting investment and providing opportunity
David Tilstone, Managing Director
For more information about our renewables capabilities, please contact us.
All information current as at 31 March 2019, unless otherwise stated.