Crown Estate to Invest £400 Million in UK Offshore Wind Supply Chain

(MarketScreener with Reuters) The Crown Estate, custodian of Britain's seabed, has pledged up to £400 million to bolster the country's offshore wind sector. The funding is earmarked for expanding supply chain infrastructure crucial to accelerating the deployment of renewable energy projects across the UK.

This initiative is aimed at addressing one of the key obstacles hindering the growth of offshore wind: limited supply chain capacity. The investment will support the development of new infrastructure including ports, manufacturing facilities, and research and testing centres. This effort aligns with the UK’s ambition to largely decarbonise its electricity grid by 2030, a move intended to reduce reliance on volatile fossil fuel markets and strengthen energy security.

Two-Pronged Investment Approach

The capital will be disbursed through two dedicated programmes. The first, a £350 million supply chain investment scheme, will focus on constructing new port and supply chain infrastructure. The second, a £50 million fund, supports early-stage project development. Currently in its second funding round, this smaller programme is offering up to £15 million for UK ports and related infrastructure projects, with applications closing on 27 June.

Expansion of Existing Projects

In a separate move last month, the Crown Estate approved plans to expand capacity at seven existing offshore wind farms. This decision further underscores the government's commitment to renewable energy and the strategic role of offshore wind in meeting national decarbonisation targets.