ALMOST unnoticed until now, a giant new industry is coming together in south Essex.

Essex needs to wake up to the wind factor. Power generation, never historically a regional speciality, could soon be the biggest single wealth generator.

Electrical power has traditionally been based on coal and gas.

Essex has no natural stocks of these commodities. The new driving force, though, is wind, of which we have plenty.

The cold east winds that rip across the flat Essex fields have always been a source of complaint. Now they are fast becoming a bankable commodity.

The Essex coast is the site for the London Array, the world's largest offshore wind farm.

Announced in 2003, the project cleared its final planning hurdle in December. The turbines will provide enough power for 750,000 homes, and meet 10 per cent of Britain's target for renewable energy by the year 2010.

To say the figures are impressive would be a multi-gigawatt understatement. Together with two smaller wind farms off the coast of Norfolk and Suffolk, the London Array will cost £7.88billion.

Capital investment is not an issue. "Private equity companies are buying into the offshore industry whenever they get the chance," according to City analyst Richard Gates.

Essex's offshore wind farm is being developed by a heavyweight consortium, London Array, consisting of three operators - Shell WindEnergy, and the Danish companies E.On and Dong Energy.

"This is a big market developing for onshore local companies," said Steve Clarke, offshore development manager for Renewables East. "We estimate the value of ongoing operation and maintenance at about £150million a year for companies within the orbit of the London Array. We have to ensure the local business community captures the economic benefit."

The earliest opportunities for Essex businesses come in the shape of components for the fitting out of the wind turbines.

"Demand for components is already massively outstripping supply," said Mr Clarke. "This has been something of a closed shop, but now there is a big supply chain gap which Essex companies can look to resource."

Renewables East marketing manager Sue Scrothers adds: "There are a whole variety of other businesses which will also benefit, some of which may not be immediately obvious, such as rubber boots, ladders, and health and safety gear.

"Entrepreneurs will spot lots of other opportunities. As an example, we already have a photographer who has built a thriving business specialising in offshore wind turbines.

"But we have to get the message out. We're not sure the business community has woken up to the opportunities."

Essex has developed what could be a worldwide lead in another form of marine energy, wave turbines. A conference held in Southend by Renew-ables East was addressed by Hugh Peter-Kelly, director of Southend-based Trident Energy.

Trident's wave-power devices are made from basic components, and are acknowledged as the simplest and cheapest form of technology in the field. A £200,000 grant from the East of England Develop-ment Agency will enable Trident to launch its first test rig, off Harwich, within the next year.

While Trident's marine generators can be used almost anywhere, the Essex coast does not provide the perfect conditions.

However, components, including floats and linear motor generators, are already being manufactured in Southend.