Overview
| Sector | Renewables |
|---|---|
| Sub-sector | Offshore wind |
| Invested | 2015 |
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.
Routine maintenance, Rhyl Flats Offshore Wind Farm
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 33 per cent of the country’s total operational offshore wind generation capacity2. With capacity to generate 2,983MW 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.
Routine maintenance, Rhyl Flats Offshore Wind Farm
Attracting investment and providing opportunity
David Tilstone, Managing Director
Turbine blade delivery, Gwynt y Môr Offshore Wind Farm
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. It is hoped that offshore wind will power every UK home by 2030, as part of the UK Government's commitment to achieve net-zero emissions3. 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.
Turbine blade delivery, Gwynt y Môr Offshore Wind Farm
All information current as at 30 November 2020, unless otherwise stated.
1 Offshore Wind Operational Report January-December 2017, The Crown Estate
2 Based on total UK operational offshore wind capacity of 9,701MW as at 31 December 2019, Offshore Wind Operational Report 2019, The Crown Estate
3 New plans to make UK world leader in green energy, Department for Business, Energy and Industrial Strategy, October 2020
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