UK Export Finance (UKEF) has signed a memorandum of understanding (MoU) with ORE Catapult (offshore renewable energy) aimed at helping ‘bring global trading opportunities to UK suppliers and propel UK renewables exports’.

The UK is the world’s biggest offshore wind market with 10.4GW of total installed capacity, and the UK Government is helping UK companies export the country’s expertise to new, emerging markets.

ORE Catapult, which operates its National Renewable Energy Centre in the North East is a leading innovation centre for offshore renewable energy with expertise in ‘accelerating offshore wind technologies and supporting clean growth’. It develops new technologies to reduce the cost of offshore wind to help UK companies become more competitive.

As part of this cooperation agreement, ORE Catapult and UKEF will raise awareness of support that can be provided to assist UK businesses in the renewable energy sector. UKEF has also trained ORE Catapult employees to highlight the financial support it can offer to benefit ‘green’ SMEs. This training will enable ORE Catapult to raise awareness of the services available to nearly 300 SMEs in the renewable energy sector it supports.

Richard Simon-Lewis — a UKEF director and head of business development, marketing and communication — said: “There is a strong pipeline of new opportunities in the renewable energy sector as economies adopt clean energy pathways where UKEF can offer its expertise. We are uniquely placed to support the Government’s ambition to grow clean energy as outlined in the recent ‘Ten Point Plan’, and this agreement will help us tap into that potential on a more granular, regional basis and increase new business in cooperation with ORE Catapult.

UK Export Finance is the UK’s export credit agency. It exists to ensure that no viable UK export lacks for finance or insurance from the private market, providing finance and insurance to help exporters win, fulfill and get paid for export contracts.