A spokesman for the CBI, which represents businesses in the UK, said that offshore wind is heavily reliant on new technologies that require long-term investment.
"At present we’re not getting this at the pace and scale required to reach our legally binding [CO2] emissions targets. Investors understand the potential and are keen to embrace offshore wind but there are too many barriers to putting their money in UK low-carbon," he said.
The CBI is urging the government to deliver policies that provide certainty for investors and to establish a Green Investment Bank that can lend as soon as possible.
Commenting on the CBI report Risky Business: Investing in the UK’s low-carbon infrastructure, Siemens UK chief executive Andreas Goss said the UK presented some challenges for investors in UK offshore wind.
"Infrastructure, grid and transport issues can be a problem, and the government needs to be careful that taxation and regulation constraints do not drive investment away," he said.
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