Lord Barker, chairman of aluminium producer EN+ Group, also suggested this could lead to a surge in new jobs as the industry looks to onshore production with plants powered by renewable electricity.
Lord Barker said: “As the energy transition rolls forward, the demand for low-carbon materials and particularly aluminium will soar. Roll forward 10 years, I can see heavy industry coming home after four decades of decline in UK manufacturing, as manufacturers strive to decarbonise and move their operations to jurisdictions where there is a plentiful supply of affordable, renewable electricity.
“This has the potential to create tens of thousands of jobs here in the UK by the end of the decade and beyond. This would be a very welcome, yet unexpected, industrial dividend from the UK’s world leadership in developing and pioneering offshore wind.”
The vast majority of aluminium is produced in China, where nearly all production plants run on burning coal. However...