Prime minister Kier Starmer has announced a £300 million investment into offshore wind supply chains through Great British Energy.
The initial £300 million investment, which will be delivered across the course of this parliament, forms part of the £8.3 billion already allocated to Great British Energy. The investment will be targeted towards workers and businesses in the UK’s industrial heartlands, and is additionally expected to mobilise billions in private investment into offshore wind. Individual companies will be able to apply for a share of this funding if they are able to prove that their plan to upscale their operations will produce long-term investments in UK supply chains.
As he made the announcement, Starmer urged the world to “come and build the clean energy future in Britain”, adding: “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.”
Industry supports the announcement
Several wind industry majors have expressed their support for this investment plan since it was announced.
Deputy CEO of RenewableUK, Jane Cooper, described the funding package as “critical to ensuring the UK grasps the industrial opportunities in the offshore wind supply chain, at a time of intense global competition for clean energy investment”.
Meanwhile, Richard Sandford, chair of the Offshore Wind Industry Council, said: “The offshore wind industry has worked hard to develop a deep understanding of where the UK could secure new supply chain investment and be internationally competitive. We have the opportunity to create thousands of new jobs in the UK, by focusing on advanced turbine technology, foundations and substructures, cables, smart environmental services, operations and maintenance.”
Plan for change powers up
This investment forms part of the UK government’s Plan For Change, which includes several other projects aimed at growing the UK’s green energy industry and stimulating the economy.
Earlier this month, the Department for Transport invested nearly £38 million to bring 319 electric buses to England’s roads by spring 2027. Funding has been allocated to 12 local authorities across the country, with the government adding that every pound of government funding will be matched by at least £3 of private investment.
Meanwhile, another part of the Plan for Change involves tackling the UK’s growing green skills gap. Just weeks ago, energy secretary Ed Miliband told a forum of industry leaders, unions and trade bodies that the government will work with them to build a “clean power army” to enable targets for clean power by 2030 to be hit. This involves creating jobs in a number of key areas as well as pushing forward with the government’s Regional Skills Pilot.
Solar Media will be hosting the Wind Power Finance and Investment Summit from 1-2 July 2025 at the Leonardo Royal Hotel London Tower Bridge, London. Michael Shanks MP, parliamentary under-secretary of state at the Department for Energy Security and Net Zero, will be the keynote speaker for the event. Further details are available here.
