Offshore wind is a critical source of renewable energy for our growing economy, with the UK already leading the world. By 2030 we plan to quadruple our offshore wind capacity so as to generate more power than all our homes use today, backing new innovations to make the most of this proven technology and investing to bring new jobs and growth to our ports and coastal regions. The UK already generates more electricity from offshore wind than any other country, harnessing the wind power our seas are well placed to produce. Government support to unleash the potential of this industry has seen the cost of offshore wind fall by two thirds in the last five years. To offer further commitment to the industry and help further reduce costs, next year, we will aim to deliver up to double the amount of renewables we procure through our next Contract for Difference auction. And by 2030, we aim to produce 40GW of offshore wind, including 1GW of innovative floating offshore wind in the windiest parts of our seas. The UK is home to the world's first two floating offshore windfarms and by 2030 we intend to have scaled this twelvefold. Our target could encourage 20 billion of private investment into the UK and could double jobs in the sector over the next decade, ranging from construction workers to top-end engineers. With a single turn of their blades, the latest wind turbines generate enough electricity to power a house for more than 24 hours. We will put ourselves at the forefront of manufacturing as we see wind turbines grow in size. To support this enlarging industry, we will invest 160 million into modern ports and manufacturing infrastructure, providing high quality employment in coastal regions. We will also enable the delivery of 60% UK content in offshore wind projects, as set out by the industry, through more stringent requirements for supply chains in the Contract for Difference auctions. This will help attract inward investment into manufacturing in the UK and increase our global competitiveness and expertise.