Offshore wind manufacturers receive millionaire investment in the U.K.

offshore wind

Offshore wind manufacturers in the U.K. received a millionaire federal funding, to establish an offshore manufacturing hub in the northeast coast of England. The funding was for $180 million pounds, or around $249 million dollars.

Firstly, the companies that received the funding were SeAH Wind Ltd and Smulders Projects UK; federal U.K. government announced it, as it would boost their intentions to achieve their climate goals.

Secondly, the government announced it plans to heavily fund manufacturing in the region back in March; the investment aims to establish two new ports on the Humber and on Teesside; to enable manufacturers to build the next generation of offshore wind projects.

Thirdly, the cash boost for the companies will help them to produce and supply essential components to the farms across Britain and around the world, creating at least 1,000 jobs, the government said.

Moreover, according to Reuters, the companies will also receive funding from the U.K. government’s 160-million-pound offshore wind manufacturing investment support scheme; which provides grants for major investments in the manufacture of strategically important components; from turbine blades to sea cables.

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Offshore wind RWE

U.K’s offshore wind capacity, the largest in the world

In addition, such actions would help the industry boost in Britain; to grow its offshore wind capacity, that currently stands as the largest in the world. In fact, by 2030, Britain aims to get about a third of its electricity from offshore wind.

On the other hand, about the importance of the grant, Kwasi Kwarteng, Business and Energy Secretary, said. “Wind is one of the UK’s greatest natural assets and we’re a world leader in offshore wind energy. With the largest installed capacity of offshore wind in the world; we are determined to grow and nurture a strong, world-class manufacturing base.”

He also added. “The investment announced today will be a huge boost to local economies in the North-East and Humber; with more than 1,000 direct jobs and a similar number of indirect jobs on their way.”

Finally, Gerry Grimstone, Minister for Investment, concluded. “Today’s announcement is a big leap forward in delivering the Prime Minister’s 10 Point Plan for a green industrial revolution; and also meeting his target of quadrupling the UK’s capacity to produce 40GW of energy by 2030.”

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