Davey aims to reassure Siemens of backing for wind farms

Ed Davey said multinational energy firms will soon have answers over how much Government subsidy will be made available for offshore wind farms to “give them the confidence they need to invest”.

Earlier this week it emerged Siemens was one of several manufacturers who have written to the Government calling for an end to the uncertainty over the level of Treasury support which will be available to the offshore wind industry over the coming years.

Siemens is planning to open a £210m turbine factory in Hull, but the final deal has not yet been signed off. On Wednesday it was revealed the deal will not now happen before the end of the year.

It is hoped if Siemens pushes ahead, a string of other major manufacturers may also be attracted to set up bases along the banks of the Humber.

Mr Davey told an industry magazine: “I do understand that there are investors who want as much information as possible – and we’re going to give them that.

“I think the signals that they’ll pick up over the next few weeks will give them the confidence they need to invest.”

Earlier this year the Government published a long-awaited draft Energy Bill that, when passed, will help to offer firms the long-term certainty they say they need.

Mr Davey said: “Inevitably, when you’re making these kinds of major reforms, and you’re transforming the electricity market from one that has a bias towards fossil fuels to one that assists all low-carbon investment, that’s going to take a little bit of time.

“But the (Energy) white paper was only a year ago, and a year later we’ve got the draft bill ready and a timetable for the final bill. So actually, it’s pretty quick for such a dramatic change.”