Crown Estate backs offshore wind with £400m investment
The UK’s Crown Estate has pledged up to £400m to support the expansion of offshore wind through enhancing onshore infrastructure and the sector’s supply chain.
In a new report, the Estate details how £350m will be used to develop new port infrastructure, supply chain manufacturing and research facilities. According to the Crown Estate, insufficient supply chain capacity is a key constraint to ongoing offshore wind deployment in the UK.
The remaining £50m will be used to establish a Supply Chain Accelerator that will support early-stage project development. Investment will be carried out in coordination with public and private bodies including Great British Energy and the National Wealth Fund.
“We will not unlock the full economic, social and environmental benefits of offshore wind without collaboration and investment into the UK supply chain,” said Ben Brinded, head of Investment at The Crown Estate.
“Building out enabling infrastructure is critical if we are to accelerate deployment off our coasts, derisk projects for investors and create local economic opportunities.”
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