UK: Twelve Companies Get Offshore Wind Financial Boost
January 22, 2025
The Offshore Wind Growth Partnership (OWGP) has launched a new $2.45 million Development Grant competition and announced a combined $3.7 million in funding awarded to 12 companies from their 2024 funding calls.
OWGP’s Development Grant program aims to support UK supply chain companies to scale up, significantly strengthening the country’s position in the global offshore wind market.
The competition is open to both offshore wind sector companies and those outside the industry, provided their projects align with priorities outlined in the Supply Chain Capability Analysis and Industrial Growth Plan.
Funding will be awarded on a competitive basis, with priority given to proposals featuring near-to-market or market-ready solutions, and a clear ambition for growth within the sector.
In 2024, OWGP awarded $3.7 million in funding to 12 UK-based supply chain companies, helping to drive innovation in line with the Industrial Growth Plan and Supply Chain Capability Analysis.
This included $1.2 million in Innovation Grants, championed by Ocean Winds and ScottishPower Renewables, and $2.45 million in Development Grants to foster sector growth.
Hutchinson Engineering, Power CSL, RelyOn, Global Greenergy Group, and Oxford Sensors have been awarded Development Grants, while Synaptec, Sedwell Ltd trading as InterBolt, Marine Power Systems, Apollo, Crondall Energy, HonuWorx, and HPR Rov have been awarded funding through the OWGP Innovation Grant.
“As the UK works towards its ambitious offshore wind capacity targets, the need for a resilient and competitive supply chain has never been greater. OWGP’s Development Grant program is designed to support this growth, providing financial backing to help businesses scale up,” said Melissa Read, Offshore Wind Manager at Equinor and Offshore Wind Industry Council (OWIC) OWGP Board Observer.
“This funding will be directed toward projects that have the greatest potential to strengthen the UK's position in the global offshore wind market, aligning with industry priorities and contributing to economic growth, job creation, and sector-wide advancements,” added Claire Canning, OWGP Programme Manager, stated:
Applications for stage one of the Development Grant open on January 22, and will close on February 28, 2025.
