The UK’s offshore wind sector has launched a major funding initiative aimed at strengthening the domestic supply chain and boosting manufacturing capacity. Under the new
Industrial Growth Fund, UK-based companies entering the offshore wind supply chain or expanding existing facilities can apply for grants worth up to £25 million each.
This funding round marks the first deployment of the multi-million-pound Industrial Growth Fund, financed by wind farm developers who are members of the Offshore Wind Industry Council (OWIC). The programme is being delivered by the
Offshore Wind Growth Partnership (OWGP), the body responsible for implementing the sector’s Industrial Growth Plan.
Unveiled last year, the Growth Plan identifies key components and services that offer the greatest economic potential for Britain. These include the design and manufacture of turbine towers, blades, foundations and cables, as well as services related to the construction and operation of offshore wind farms. Companies seeking funding must demonstrate their ability to meet the sector’s requirements with high-quality products and services.
World-class supply chainAdam Morrison, the industry co-chair of the Offshore Wind Industry Council, and the UK country manager of Ocean Winds, said: “The launch of the multi-million-pound Industrial Growth Fund is a huge stride forward for the sector, turning our Industrial Growth Plan into reality by ensuring that more companies join our world-class supply chain to provide goods and service for offshore wind projects here and abroad. The measures set out in the plan will enable us to create 10,000 extra supply chain jobs, tripling our current manufacturing capacity and boosting the UK’s economy by a further £25 billion between now and 2035.”
Jane Cooper, deputy CEO of
RenewableUK and OWGP board member, added: “The launch of the first round of the Industrial Growth Fund is a landmark moment for the UK’s world-leading offshore wind industry. It will support the creation of vibrant, innovative new supply chains all over the country, building on the hundreds of companies already thriving here which serve our sector. It will ensure that communities throughout the UK feel the tangible benefits of industrial regeneration in areas which need new opportunities.”
Applications for the Industrial Growth Fund are now open and will close on Friday, 12 December. Further details on how to apply are available via the
Offshore Wind Growth Partnership.