TAG Energy to build wind turbine foundations factory in UK

(ADPnews) - Sep 29, 2010 - TAG Energy Solutions (TAG) announced on Tuesday that it will set up an offshore wind turbine foundation manufacturing plant in the Tees Valley, northern UK, thanks to the recently secured financing.

Estimated at GBP 20 million (USD 32m/EUR 23m), the factory at Haverton Hill, Billingham, will create up to 400 green-collar jobs. It is projected to bang out tubular foundations, which will support the generators harnessing offshore wind power in the North Sea.

Earlier this year, in March, the manufacturer of offshore wind turbines said it had been offered a grant of GBP 1.5 million by regional development agency One North East for its bid for over GBP 500 million worth of work in the offshore wind sector. In addition, TAG's project has already absorbed GBP 1.5 million from the government's Department of Energy and Climate Change (DECC) to develop the innovative technology required for the high-tech manufacturing.

One North East and the government have committed GBP 60 million to support the Tees Valley's transition to low carbon and advanced manufacturing industries via the Tees Valley Industrial Programme.

(GBP 1.0 = USD 1.580/EUR 1.163)

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