Funding Boost for Offshore Wind

The Government has pledged its continuing support for the UK’s offshore wind industry by investing £66 million into the sector. Ministers are keen to maintain the UK’s position as a global leader in offshore wind energy and the investment is part of a whole new strategy to support future growth.

The funding will be used to improve the supply chain for offshore wind projects and fund technical and product developments that will create tens of thousands of jobs in the next few years. £20m will be used to set up a new manufacturing advisory service whilst £46m will be spent on supporting product development by bringing together Government, industry and academic resources.

Currently, a large proportion of manufacturing contracts for UK offshore wind projects are awarded to overseas firms. Through its investment and the new strategy, the Government is aiming to keep more of these contracts within the UK – potentially boosting the economy by £7 billion by 2020.

Wilding says: The UK has some of the best offshore wind resources in the world, but we can’t make the most of them without investing in the supply chain and product development processes. This funding announcement and the new strategy will hopefully change the current situation so that more contracts are awarded to UK firms in the future.

Source: Northern Echo