By William Mathis (Bloomberg) -- The world’s biggest offshore wind park planned off the coast of England will probably in the next decade generate power cheaper than by burning coal. A number of offshore wind projects won contracts to sell power at guaranteed prices in a U.K. auction Friday. The price of 39.65 pounds per megawatt-hour ($49.70) was 31% below the level in a … [Read more...]
Britain at Risk of Losing Leading Edge in Maritime Services
By Jonathan Saul LONDON, Sept 9 (Reuters) - Britain's position as a top hub for maritime services is being eroded by competition, a loss of shipping finance business and the removal of tycoon-friendly tax breaks, a report said, deepening uncertainty for its financial sector as Brexit nears. The UK has been a pivotal global shipping center for centuries, especially the City … [Read more...]
Queen Elizabeth Makes Millions from U.K.’s Offshore Wind Farms
By Anna Hirtenstein (Bloomberg) -- Leasing the seabed to offshore wind developers was the most profitable business last year for The Crown Estate Ltd., the company that generates income for Queen Elizabeth II. Earnings from the clean-energy technology in 2017 jumped 32 percent from the previous year to 37 million pounds ($49 million), according to a statement. The gain … [Read more...]
Britain Escorts Russian Ship Near National Waters Amid Strained Relations
LONDON, Dec 26 (Reuters) - A British ship escorted a Russian vessel as it passed near UK territorial waters over Christmas, Britain's defense ministry said on Tuesday, adding that Russian naval activity near Britain had increased in the holiday period. The frigate HMS St Albans departed on Dec. 23 to track the new Russian warship Admiral Gorshkov as it moved through the … [Read more...]
Britain Should Speed Up Military Shipbuilding to Create Jobs
LONDON, Nov 29 (Reuters) - Britain needs to speed up shipbuilding for the Royal Navy and spread work more widely across companies and shipyards to help create jobs and ensure the future of the industry, an independent report said on Tuesday. Britain's biggest defence contractor is BAE Systems , which together with its Clyde shipyard in Scotland will be the main beneficiary … [Read more...]