The UK’s Offshore Wind Council has launched a new £100 million fund to help UK companies expand the interests in the country’s fast-growing offshore wind industry.
The ten-year Offshore Wind Growth Partnership (OWGP) will support the country’s Sector Inclusion Commitment and Energy & Utility Skills Partnership, and see 30GW of offshore wind capacity installed by 2030, representing a third of the country’s electricity needs.
The OWGP will be delivered by innovation and research centre ORE Catapult, which will support services and advice to over 650 UK industry supply chain companies in areas such as commercialisation, manufacturing and innovation-funding.
Exports from the country’s wind sector are expected to quintuple to over $3.3 billion by 2030.
The global offshore wind market is anticipated to be worth $38 billion by that same date, and the programme is expected to help UK companies participate more fully in international markets.
Companies will be invited to apply for support at regular intervals. The first pilot opportunity for participants will be announced in September 2019.
The OWGP’s first project will be to a study of the current and future requirements for fixed turbine foundations such as monopiles and jackets and identifying, and proposing solutions for potential growth challenges in both UK market and abroad.
Benj Sykes, Industry Chair of the OWIC and Ørsted UK Country Manager for Offshore said: “The offshore wind industry is offering multi-million pound opportunities to hundreds of innovative companies throughout the UK in the years ahead – including new entrants to the market as well as firms already working in this area.
“The Offshore Wind Growth Partnership will provide practical help for UK companies so they can compete successfully for contracts in this thriving global market. The UK’s global pre-eminence in offshore wind means we are uniquely placed to sell our innovative products and services worldwide.”