Siemens, a provider of wind turbines and offshore grid connections to the UK, has announced that it is to invest in excess of £80m to develop an offshore wind turbine production facility in the UK, creating 700 new local jobs.

Siemens says it is currently exploring a number of sites on the East coast and in the North East and will make its decision about the exact location when the competition process for land development is complete.

Andreas J Goss, Siemens’ chief executive in the UK, says: “With the anticipated growth in the renewables market, there is potential for expansion of the facility in the future. This £80m investment plus additional investment in our UK infrastructure for renewables will provide a much-needed economic boost for the region, as well as driving growth in the UK’s innovative wind power industry.”