Figures released this week show that more than £81bn worth of renewable energy projects are proposed by 2025, representing nearly half of all infrastructure spending in the UK.
Barbour ABI has released new data revealing that a total of 405 renewable energy projects are in the pipeline.
These projects account for approximately 47% of proposed UK infrastructure projects before 2025.
All but 17 of the schemes are new build, indicating the significance of the renewable energy sector for construction. Proposed projects include: the £25bn Severn Barrage; phases one to six of the East Anglia One off-shore wind farm worth £10.8bn collectively; and the £3.75bn Hornsea off-shore wind farm.
It also highlights the importance of wind power in the renewable energy mix, with wind farms accounting for nine of the top 10 most valuable projects.
Lead economist Michael Dall said: “The scale of renewable energy projects proposed in the UK is staggering, and investment in this sector shows no signs of slowing.
“According to our latest Economic & Construction Market Review, utilities were the major infrastructure project type in September. This is no surprise given the number and value of contracts being awarded, which is due – among other things – to the levels of subsidy currently provided by the government.
“With a number of these projects already confirmed and many more at early stages of planning, the future of renewable energy construction in the UK looks bright.”