Offshore wind supply chain companies to get £3.5m boost

The OWGP has announced a new round of funding to help UK businesses accelerate their growth in the offshore wind supply chain

Big Zero Report 2023

The Offshore Wind Growth Partnership (OWGP) has launched its latest ‘Development Grant’ funding call – which will make £3.5 million available for UK businesses looking to boost their offshore wind supply chain.

The grants can either be used as capital or operational expenditure for projects that will increase the country’s offshore wind sector output and exportation.

The OWGP has revealed that grants of up to £1 million will be available, to cover up to half of the total budget of the project. These will be awarded based on companies’ long-term business plans and proposals for the sites.

Just under 100 British companies have benefitted from OWGP funding since its inception two years ago.

Alongside announcing the new round of funding, it also announce the seven companies who were successful in acquiring the last round of £3.5 million funding in May of this year.

Andrew MacDonald, OWGP Programme Director, said: “Today’s announcement of this latest pot of funding from OWGP is a huge opportunity for UK businesses to achieve a step change in growth within the UK’s offshore wind market and beyond.

“To date, OWGP has invested more than £6 million into offshore wind supply chain projects which is already resulting in significant contract wins and trade for some companies in our previous funding cohorts.”

Make sure you check out the latest Net Hero Podcast episode: