Over £2m awarded to 11 UK businesses as OWGP launches latest funding round

The Offshore Wind Growth Partnership (OWGP) has released its latest Development Grant funding call, with £2m available for UK businesses looking to accelerate their growth in the offshore wind supply chain.

Funding is available for projects that target at least one of the high-value focus areas identified in the recent Supply Chain Capability Analysis report, commissioned by the Offshore Wind Industry Council (OWIC) and OWGP.

Proposals should align with one of the nine supply chain categories that represent high value opportunities for the UK, including cables, substations and electrical design, steel fabrication, floating wind, development services, offshore services, vessels, blades and rotor assembly and Wind Turbine Generator components.

Melissa Read, Offshore Wind Manager at Equinor and Industry Lead for OWGP, commented: “We’re delighted to announce the latest development grant, now with a more programmatic focus based on a detailed economic analysis of the supply chain conducted with offshore wind industry experts.

“While the UK has many strengths, the Supply Chain Capability Analysis was written in recognition that the UK could do more to fully grasp the economic potential offered by its world-leading wind sector, as UK suppliers face fierce international competition for business.

“With this new targeted fund, we hope to enable more UK based organisations to play their part in the growth of renewable power in UK and international waters.”

Grants of up to £500k are available to cover up to 50 per cent of project costs and will be awarded on a competitive basis. Successful proposals will demonstrate a long-term business plan, and clear ambition to unlock significant growth potential in UK content, jobs, and export opportunities in the offshore wind sector.

More information is available from OWGP who are exhibiting at the Scottish Renewables Offshore Wind conference in Glasgow this week, and at a briefing webinar on Friday 2 February 2024. You can register for the webinar here. Today, OWGP also revealed the 11 companies that have secured a share of the £2.4m funding pot released in May 2023.

EchoBolt, Insensys, Unmanned Survey Solutions, Encomara, Quoceant, Technip FMC, Plaswire, CRC Evans, London Marine Consultants, SeaRoc and Windscope have all been awarded OWGP Development Grant Funding to support offshore wind supply chain projects totalling £5m.

The successful projects have a key focus on improving capability, increasing competitiveness, and driving forward business growth within the offshore wind sector.

By Matthew Neville – Senior Correspondent, Bdaily

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