Prime Minister Keir Starmer has announced a £300 million investment to support the UK’s offshore wind industry, aiming to strengthen domestic supply chains. The funding, introduced through Great British Energy, will focus on manufacturing components like floating offshore platforms and cables.
This initial investment is expected to create thousands of jobs and attract additional private funding. It forms part of the Prime Minister’s broader effort to secure the UK’s energy future and build resilient local supply chains for clean energy.
The funding comes ahead of the Future of Energy Security Summit, where global leaders will discuss clean energy transitions. The UK government’s support aligns with its commitment to meet clean power targets by 2030. The move also follows significant investments, including £43 billion in private sector pledges to clean energy projects.
The initiative aims to triple the UK’s manufacturing capacity for offshore wind over the next decade, contributing £25 billion to the economy and creating 10,000 new jobs.
Energy Secretary Ed Miliband emphasized that the investment would provide long-term security, reducing reliance on volatile global markets. The funding will be available to companies that demonstrate long-term investment in UK supply chains. Great British Energy is expected to oversee the distribution of grants.