UK offshore wind

Supporting the UK’s transition to a low-carbon future.

Overview

As the shift to low-carbon energy generation intensifies, MIRA is helping the UK cement its leadership position in the offshore wind sector.

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 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.

Routine maintenance, Rhyl Flats Offshore Wind Farm

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. 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.

Export cable laying, Gwynt y Môr Offshore Wind Farm
10 offshore wind investments around the UK
38% of total UK offshore wind generation capacity2
2,966MW of clean energy
Export cable laying, Gwynt y Môr Offshore Wind Farm

Attracting investment and providing opportunity

“In the space of ten years, the UK has become a world leader in offshore wind. We’re supporting its growth ambitions – drawing on technical expertise and institutional capital to help the UK transition to a low-carbon future.”

 

David Tilstone, Managing Director

 

For more information about our renewables capabilities, please contact us.

For more information about our renewables capabilities, please contact us.

Infrastructure


Renewables


Real Estate


Agriculture


Insurance Services


Private Credit

Infrastructure



Renewables


Real Estate


Agriculture


Insurance Services


Private Credit

All information current as at 31 March 2019, unless otherwise stated.

 

1 Offshore Wind Operational Report January-December 2017, The Crown Estate

2 Based on total UK operational offshore wind capacity of 7,905MW as at 31 December 2018, Offshore Wind Operational Report January-December 2018, The Crown Estate

3 Department for Business, Energy and Industrial Strategy