LONDON, July 11 (UPI) -- The British government said Thursday it has created the right climate to attract major investors to its growing wind energy sector.
British Energy Secretary Ed Davey said the government gave its consent for the eventual construction of what he said would be the world's largest offshore wind farm, the Triton Knoll project. It represents a $5.6 billion investment and will generate 1,200 megawatts from its 288 turbines off the coast of Lincolnshire and Norfolk.
The Pen y Cymoedd wind farm in South Wales, meanwhile, represents a $509 million investment and will generate enough wind power to meet the annual demands of 140,000 homes. Davey gave the consent for the project's construction, which should start next year.
"We have provided certainty early to onshore and offshore wind investors and now see significant investment decisions being made that will benefit the U.K.'s economy for years to come," Davey said in a statement.
British officials have set a goal of getting 30 percent of the country's electricity generated by renewable resources by 2020.
Davey in March said the government wants to give project developers the confidence they need to invest in the country's low-carbon economy.