The UK government, Great British Energy, the Crown Estate, and industry stakeholders have announced a joint £1 billion investment aimed at expanding the country’s offshore wind sector, with a focus on job creation, infrastructure, and regional economic development.
The Crown Estate will contribute £400 million to support infrastructure improvements, including upgrades to ports, supply chain facilities, and research centres. An additional £300 million will come from industry partners to advance turbine technologies and manufacturing capabilities for offshore wind foundations and substructures.
This funding is in addition to the £300 million previously committed by state-owned Great British Energy in April.
Energy Secretary Ed Miliband described the agreement as a significant public-private initiative. “This is an unprecedented collaboration between public and private investors,” Miliband said. “Great British Energy [is] crowding in millions of private sector investment… to ensure that British companies and workers win the global race for clean energy.”
Dan McGrail, Chief Executive of Great British Energy, said the public funding would help attract private capital to the sector. “By providing state-backed, catalytic investment, we can deliver on our remit to crowd-in investment, giving much needed certainty to developers and investors in the clean energy sector,” he said.
The UK government also confirmed up to £544 million from its Clean Industry Bonus would be made available to offshore wind developers who commit to investing in economically disadvantaged regions, including Scotland, the North East, and East Anglia.
According to industry estimates, the total package could help support up to 14,000 jobs and generate up to £9 billion in private investment over the next four years. Final allocations will be determined following the upcoming Contracts for Difference auction (AR7).
“Scotland is at the heart of our plans to become a clean energy superpower,” said Scottish Secretary Ian Murray, “and put more money in the pockets of working Scots by investing in the country’s renewal.”
