THE government has announced an initial £300 million investment to strengthen domestic offshore wind supply chains ahead of the Comprehensive Spending Review. The funding will be distributed through Great British Energy, the country's publicly-owned clean energy company.
Prime minister Keir Starmer on Thursday (24) said the investment aims to support jobs and help the UK reach clean power by 2030.
"Delivering the Plan for Change means winning the race for the clean energy jobs of the future, which will drive growth and help us reach clean power by 2030," said Starmer. "I am bringing forward much-needed investment in our domestic offshore wind supply chains, strengthening our security and creating good jobs for our welders, electricians, and engineers."
The government expects this investment to attract billions in additional private investment, supporting thousands of jobs in the UK's industrial regions. The money will fund manufacturing components for offshore wind projects, including floating platforms and cables.
Energy secretary Ed Miliband said: "It is only by taking back control of our energy that we can protect families and businesses from the rollercoaster of global markets we don't control."
The announcement comes as the UK hosts a two-day Summit on the Future of Energy Security in London, bringing together government and industry representatives from around the world, including EU Commission president Ursula von der Leyen.
Dan McGrail, interim CEO of Great British Energy, said the company "will help the UK win the global race for clean energy jobs and growth by investing in homegrown supply chains and ensuring key infrastructure parts are made here in Britain."
Jane Cooper, Deputy CEO of RenewableUK, welcomed the funding, saying there is "a huge opportunity for the UK to secure thousands of new jobs and supply chain investment in the sector."
She added that with appropriate support, there is "an opportunity to triple our manufacturing capacity over the next decade, adding £25 billion to the UK economy and creating an additional 10,000 jobs in the supply chain."
The investment is part of the £8.3bn allocated to Great British Energy over the current parliament. Companies will be able to apply for grants if they can demonstrate long-term investments in UK supply chains, a statement said.
