£4.5m funding for offshore wind growth announced

Posted on 23 Sep 2014 by The Manufacturer

Two funding calls worth a combined £4.5m which aim to help English manufacturers exploit offshore wind market opportunities have been announced.

The GROW:OffshoreWind service has unveiled the fast-track funding calls to help manufacturers maximise opportunities worth up to £15bn.

The first fast-track funding call, which is supported by programme partner RenewableUK, is valued at up to £2.5m and has been directed to support SME companies with their capital investment plans.

Through partnership with the Knowledge Transfer Network (KTN) and Offshore Renewable Energy Catapult, a second fast-track fund totalling £2m has also been made available to help SMEs and Large Enterprises accelerate their investment in innovation projects.

Both calls are seeking applications from English companies who can utilise this funding over the next six months.

Applications will be assessed on their ability to create jobs and develop market presence in the offshore wind supply chain, with Expression of Interest applications to be submitted by 15th October 2014.

Successful applicants will be required to have substantively completed their projects by 30th April 2015.

Dominic Brown, head of GROW:OffshoreWind, said the calls will aid companies to invest by early November.

“By streamlining the approvals process, the calls will enable companies to commence their investment plans by early November, ensuring they are in the best possible position to take advantage of the opportunities that are out there,” he said.

“Up to £500k of grant funding is available for successful applicants, which can be used to support a wide variety of project costs.”

The programme is supported by the Government’s Regional Growth Fund and is delivered by the Manufacturing Advisory Service (MAS), RenewableUK (RUK), Grant Thornton and the Advanced Manufacturing Research Centre.