Siemens announced Tuesday that it will invest 260 million U.S. dollars in offshore wind turbine production and installation facilities in Yorkshire of England.
The revised plan of the German engineering and electronics giant will be spread across two sites comprising the previously announced Green Port Hull project construction, assembly and service facility and a new rotor blade manufacturing facility in nearby Paull, in East Riding.
Apart from the investment from Siemens across the two locations, its port partner Associated British Ports will invest a further 250 million dollars in the Green Port Hull development.
"This is a massive vote of confidence in our long-term economic plan. This investment is going to create lots of new jobs and opportunities, meaning more financial security and peace of mind for families and a more resilient economy for our country," said British Prime Minister David Cameron.
Michael Suess, CEO of the Siemens Energy Sector, said that the offshore wind market in Britain has high growth rates, with an even greater potential for the future.
Up to 11 percent of British electricity in February was generated by wind facilities. By 2020, a capacity of 14 gigawatts is to be installed at sea alone to combine the country's environmental objectives with secure power supply.
Siemens has installed more than 2,200 wind turbines onshore and offshore in Yorkshire with a total capacity of more than 5,000 megawatts. Around half of the wind power capacity installed in Britain is equipped by Siemens.