The Offshore Wind Growth Partnership has launched its new Manufacturing Facility Support Programme intended to unlock investments in UK manufacturing to support the growth of the offshore wind sector.
The fund has £2m available for UK businesses looking to either build new manufacturing facilities or significantly expand existing facilities that make key components, equipment and/or systems required for the offshore wind sector. The Stage 1 application window is open now until Friday 20th September 2024.
The Partnership aims to increase UK offshore wind manufacturing capability and capacity by stimulating early-stage investment. Matched funding of up to £500,000 will be provided via a two-stage application process to help accelerate pre-investment development activities, and two reduce the risks involved.
Iain Sinclair, Executive Director at Global Energy Group and Non-Executive Director for OWGP said: “This new programme will provide highly-focused support to innovative UK-based manufacturing companies with the necessary resources to develop new or additional production capacity geared towards providing locally-produced equipment and systems. Developing these resources is key to helping accelerate the deployment of offshore wind in the UK, helping us to reach our ambitious target of 60GW by 2030.
“The MFSP programme further advances our mission to improve productivity, increase business competitiveness, boost innovation, and support a globally competitive offshore wind supply chain in the UK.”
Funding will be awarded on a competitive basis in the form of a grant. Successful proposals will demonstrate a long-term business plan that covers investment plans, forecast market share, revenue, profitability, employment and exports.
