Wind Energy – Floating Offshore Wind
Global Underwater Hub (GUH) and Scottish Enterprise (SE) have signed a Memorandum of Understanding which will see them work in partnership to establish a subsea supply chain ecosystem as a global centre of excellence for floating offshore wind.
The strategic partnership aims to maximise the economic value for Scotland and the wider UK from the projected rapid global growth in floating offshore wind. It will also support the transition of the UK’s oil and gas underwater sector supply chain into floating offshore wind.
The subsea supply chain ecosystem will provide a collaborative environment for driving capability and capacity in Scottish subsea companies so they can capitalise on the opportunities in floating offshore wind – a market estimated to be worth £ 1 trillion globally and £ 270 billion domestically.
Working together, GUH and SE will help protect and grow the UK’s underwater industry’s world-leading position by harnessing the innovation and economic opportunities that are emerging from floating offshore wind.
They will identify and bring together the companies, organisations, facilities, resources and expertise that can support the growth of the floating offshore wind industry in the UK and internationally.
Part of the partnership’s remit will be funding and project development, working collaboratively to co-design and develop initiatives which will make effective use of public sector funding to support projects in the supply chain. The funding will anchor local companies and reinforce their competitive advantage in subsea technology and operations.
They will also develop and execute joint strategies for business growth services, investment campaigns and foreign direct investment, including financial support and products to attract industry stakeholders, maximising efficient use of resources and reducing duplication.
Other priorities will include analysis and support for subsea supply chain needs with a focus on competitive advantage, market access and technology commercialisation.
The partnership will also lead to the development of agreed industry standards, guidelines and best practice for subsea systems and infrastructure, increasing insurance community confidence and project stability.
Neil Gordon, chief executive of the GUH, said: “The growth of floating offshore wind brings massive opportunities for our underwater supply chain. ScotWind alone represents £28billion in development, manufacturing, and installation opportunities to bring 30GW of generating capacity online over the next decade and a further £33billion from operations and maintenance over the full life of a windfarm.”
Scottish Enterprise’s Director for Energy Transition Suzanne Sosna said: “Our vision is for Scotland to be viewed around the world as a centre of excellence for offshore wind, with supply chains that are world-leading in terms of value, competitiveness and service.”
