The U.K. government has allocated $400 million, via publicly-owned clean energy company Great British Energy, to strengthen the domestic offshore wind supply chain.
The funding, announced by U.K.’s Prime Minister Keir Starmer, will boost domestic jobs, mobilize additional private investment, and secure manufacturing facilities for critical clean energy supply chains like floating offshore platforms.
It is expected that the investment will directly and indirectly mobilize billions in additional private investment - helping de-risk clean energy projects and supporting thousands of jobs and revitalizing the UK’s industrial heartlands.
“Delivering the Plan for Change means winning the race for the clean energy jobs of the future, which will drive growth and help us reach clean power by 2030.
“That is why I am bringing forward much-needed investment in our domestic offshore wind supply chains, strengthening our security and creating good jobs for our welders, electricians, and engineers.
“Let my message to the world go out: come and build the clean energy future in Britain,” said Starmer.
“Great British Energy will help the UK win the global race for clean energy jobs and growth by investing in homegrown supply chains and ensuring key infrastructure parts are made here in Britain.
“We will work closely with businesses across the clean energy sector to get funding out as fast as possible and get projects off the ground,” added Dan McGrail, interim CEO of Great British Energy.
The funding for supply chains will be made available as part of the $11 billion for Great British Energy over this parliament, with individual companies able to apply for grants if they can show that they will produce long-term investments in UK supply chains.
Offshore wind industry has welcomed the government investment, aimed at creating jobs and growing the supply chain.
“We are pleased that the Government has taken up the industry’s offer to work together on an Industrial Growth Plan for offshore wind. The offshore wind industry has worked hard to develop a deep understanding of where the U.K. could secure new supply chain investment and be internationally competitive.
“We have the opportunity to create thousands of new jobs in the U.K., by focusing on advanced turbine technology, foundations and substructures, cables, smart environmental services, operations and maintenance.
"This funding reflects the reality that aspiration needs to be backed with action when it comes to offshore wind supply chain development. It will unlock new discussions about further collaboration between industry and Government ahead of the Industrial Strategy,” said Richard Sandford, the Chair of the Offshore Wind Industry Council.