Five UK companies have secured a combined £1,200,000 from the Offshore Wind Growth Partnership under the second round of its manufacturing facility support programme.
OWGP said the funding will accelerate early-stage pre-investment work to develop or expand manufacturing facilities for offshore wind components, equipment and systems.
It added that the awards align with priorities in the offshore wind industrial growth plan and are intended to increase domestic production capacity and capability.
The programme provides matched funding of up to £500,000 per project to de-risk early investment and unlock significant capital expenditure, according to OWGP.
Successful projects are expected to deliver at least £5m in capital investment within two years, £5m in annual revenue and create a minimum of 20 UK jobs within five years, the organisation stated.
The round will support King Site Services (SW) Limited, Mainstay Marine Solutions, Marine Power Systems, Peterhead Energy Service Base Limited and PPI Engineering to advance manufacturing initiatives across the sector.
These include producing secondary steel for floating wind, storage capacity for a multi-vessel build programme, early work on deep-water platform fabrication, a turbine generator manufacturing and repair facility and a cable handling centre, OWGP said.
Tom Piper, project manager at OWGP, said: “The Manufacturing Facility Support Programme is specifically designed to unlock progress at the point where strong projects need targeted support to move toward final investment decisions.
“This second funding round demonstrates the depth of opportunity within the UK supply chain.”
Lynne McIntosh-Grieve, head of programme delivery at OWGP, added: “Expanding and strengthening UK manufacturing capability is essential to deliver offshore wind at pace and scale.
“MFSP provides a vital bridge between early development work and major capital investment, enabling businesses to turn strong concepts into investable, deliverable facilities.”
Iain Sinclair, executive director at Global Energy Service Holding and non-executive director for OWGP, stated: “This programme is about building lasting capability within the UK, not just supporting individual projects.
“The projects supported through this second round represent another important step towards meeting the UK’s offshore wind targets for 2030 and beyond.”
Sourced by: reNEWS.biz
