Siemens has halted investment in the U.K. after Brexit

6.7.2016

In 2014 Siemens agreed to invest GBP 160 million in a blade manufacturing factory in Hull in the U.K. The factory which will produce parts for 7 megawatt off-shore wind farms should open in the coming months. Siemens has, however, halted long-term export plans until it is clearer what the future business relationships will be between the U.K. and the European Union.

According to the original plans the Hull factory wanted to export part of its production outside the U.K. Until the business conditions are clear after Brexit the products from Hull will be delivered to the local market. The main buyer of the blades should be the Beatrice wind farm in Scotland which was financially supported by the European Union.

Many other wind investors have reacted in similar way as Siemens, and plan to wait for the outcome of the Brexit. According to Dong Energy there is nothing to worry about because the U.K.’s energy policy is not dependent on EU membership.

-tk-