The Scottish Offshore Wind Energy Council (SOWEC) has unveiled the next phase of its Strategic Investment Model (SIM) program, selecting three initial projects to progress into Stage 2. These projects, deemed pivotal for driving transformative growth within Scotland's offshore wind supply chain, will undergo a collaborative process involving offshore wind developers, the Scottish Government, enterprise agencies, and Crown Estate Scotland.
Scheduled meetings between offshore wind developers and the selected projects are set to take place in February 2024, marking the commencement of Stage 2. The primary objective of this stage is to instill confidence in the projects to facilitate a Final Investment Decision.
See also: Scotland launches Strategic Investment Model for Offshore Wind to Maximize Supply Chain Benefits
The chosen projects include the expansion of the Port of Cromarty Firth, the Port of Nigg West Deepwater Quay Expansion by Global Energy Group, and a supply chain investment initiative, the identity of which remains confidential for commercial reasons.
During Stage 2, stakeholders will collaborate closely to provide necessary support and assistance, ensuring the projects receive the backing required to advance. The SIM aims to evaluate different forms of support and strategies to expedite projects toward final investment decisions.
Gillian Martin, the Scottish Government's Energy Minister, underscored the government's commitment to maximizing the economic potential of offshore wind. She highlighted the significance of moving these three projects, collectively valued at around £500 million, to the next stage of the SIM. Martin emphasized the innovative nature of the SIM, which fosters collaboration between industry and the public sector, serving as a model for other sectors and investment communities worldwide.
See also: Arup Chosen as Programme Manager for Scotland's Strategic Investment Model in Offshore Wind Energy
While the SIM process continues, additional projects are being assessed and supported to engage with offshore wind initiatives. The next phase for all projects involves receiving feedback from the SIM through expressions of interest submitted by offshore wind developers for further engagement.
Furthermore, INTOG developers have received invitations to join the SIM, emphasizing a collaborative approach to support infrastructure and supply chain development within the offshore wind sector.
