While still under construction, the Dogger Bank Wind Farm is set to be the world’s largest offshore wind facility. UK leaders expect the facility to have a monumental economic impact. A recently published independent report from economic consultants BVG Associates reveals that the offshore wind farm is projected to boost the economy by £6.1 billion (approximately $ 8 billion) over its lifetime.
Additionally, they anticipate that the facility will generate and support thousands of jobs across the nation.
The £6.1 billion will contribute to the UK’s Gross Domestic Product (GDP), which is attributed to investments in UK companies, skills development, and job creation throughout the project’s lifecycle. Moreover, the wind farm will go through three 1.2 GW phases in the North Sea. Its fully operational 3.6GW output will generate enough electricity to power approximately 6 million UK homes annually.
More Than a Wind Farm
For employment, UK leaders say new jobs are rapidly growing during the project’s construction and early operation phases. They expect full-time equivalent (FTE) jobs to peak at 3,600 in 2025. Furthermore, they say the economic influence is long-term. An average of 1,400 highly skilled FTE jobs are projected to be supported over the wind farm’s operational life of at least 35 years.
Beyond the direct economic and employment figures, the wind farm has committed a further £26 million to local communities. This funding is dedicated to enhancing science, technology, engineering, and maths (STEM) education. Additionally, the funding is committed to bolstering vital community initiatives, including a scholarship program that has already awarded 123 grants to students in the key regions.
“Clean, homegrown power is the right choice for families and industry right across the country. Wind power is cheaper, cleaner and more secure than new gas – helping us bring down bills for good,” said Energy Minister Michael Shanks. “As shown by this independent report, offshore wind projects such as Dogger Bank will generate billions for the UK, while also delivering thousands of good jobs – showing once again that clean power is the economic opportunity of the 21st century.”