17 June 2025
UK public finance institutions, investment bodies and industry join forces to support Britain's offshore wind supply chain
- The UK’s leading public finance institutions, investment bodies and industry are working together to offer project developers and investors a clear funding pathway to deliver offshore wind power for the UK.
- This move aims to accelerate the deployment of project capital, supporting the development of offshore wind supply chains.
- Key public financial and investment institutions, along with The Offshore Wind Growth Partnership (OWGP) in its role as the industry’s funding organisation, will deepen their ambition to deliver better outcomes for project developers and investors.
The UK’s leading public finance and investment institutions have come together to accelerate the deployment of funding, supporting domestic supply chain development for offshore wind projects.
Great British Energy, The National Wealth Fund, The Scottish National Investment Bank, The Crown Estate, Crown Estate Scotland and The Development Bank of Wales have each agreed to develop a unified, integrated public finance ecosystem to support the growth of the UK's offshore wind sector.
The Clean Power 2030 Action Plan has set a clear course of action for British businesses and investors, bringing a singular focus to the UK’s offshore wind capacity targets. By boosting investment in our supply chain capabilities, the UK stands to increase manufacturing and develop proprietary IP and knowledge.
Today’s announcement will ensure that targeted finance will be deployed in a complementary way, enabling different partners to support the development of the offshore wind supply chains.
The funding and financing ecosystem will give developers, investors and supply chain businesses the confidence to invest, as well as giving greater clarity on how to secure funding for projects. All funding organisations will work together to determine which of them is best placed to support a project, or whether co-investment is suitable, ensuring public capital is deployed efficiently and its impact is maximised.
In addition to the £300 million allocated by Great British Energy, each of these organisations plans to commit funding to support the offshore wind supply chain through a combination of grants and direct commercial investments. By working collaboratively and investing alongside each other, organisations will maximise funding impact. Decisions on investments will still reside with the independent processes of each body.
A key aim will be to secure co-investment and crowd in private capital. Equipped with private capital sourced from Offshore Wind Industry Council developers at a collective level, the OWGP is uniquely positioned to complement the public finance ecosystem and facilitate a substantial multiplier effect within the market, enhancing the deployment of public finance.
Collaboration across the public and private offshore renewable energy ecosystem will accelerate the UK’s drive towards unlocking the next generation of offshore wind projects, expanding domestic supply chain capacity, and corralling private investment.
Rob Gilbert, Supply Chain Director, Great British Energy, said:
“Clean power by 2030 has given the industry a singular focus towards achieving our offshore targets. With the creation of GBE, we can now fully support the offshore wind supply chain and work within a structured ecosystem of capital, delivering the right funds to the right projects, enabling private investment, and catalysing support.”
Mark Munro, Chief Investment Officer, The Scottish National Investment Bank, said:
“Offshore wind offers a transformational prospect for the whole of the UK. Realising this opportunity is contingent on strategic commercial investment from the public and private sector. As Scotland’s development bank, we have the expertise and the pipeline to work with our partners as we’ve announced today. Together we can create the jobs and the industries for the future as we realise the huge potential for the country.”
Ian Brown, Head of Banking, The National Wealth Fund, said:
“We have a strong track record mobilising private finance to develop the infrastructure needed to support the offshore wind industry. Working together with our partners across the public and private sector, we will continue to invest where we are needed, creating jobs and driving growth in pursuit of Clean Power 2030.”
Giles Thorley, CEO, Development Bank of Wales, said:
“With our deep seas, high offshore wind speeds and deep water port facilities, Wales is well placed to capitalise on the first-mover advantages of establishing floating offshore wind. Working collaboratively alongside co-investors, our funding will help attract inward investment and ensure that the local supply chain has access to the capital required to benefit from this emerging industry.”
Mike Spain, Director of Marine, Crown Estate Scotland, said:
“Working in collaboration with industry, government and colleagues across the sector holds the key to unlocking the full potential offered by offshore wind, which is why Crown Estate Scotland wholeheartedly welcomes the launch of the Clean Power 2030 Action Plan. As the organisation responsible for the leasing of Scotland’s seabed, we have a vital role to play in enabling the work of the country’s offshore wind supply chain, and with it the prospect of a green energy future supporting thousands of new jobs.”
Ben Brinded, Head of Investment, The Crown Estate, said:
“Offshore wind is critical to the UK’s clean energy future, and this ambition can only be realised through deep collaboration and co-investment between private and public sectors. The Crown Estate is proposing to invest up to £400m in the UK offshore wind supply chain through two targeted programmes – our Supply Chain Accelerator and Supply Chain Investment Programme.
“We look forward to working with the sector and with government and other public finance institutions to build out the UK’s infrastructure, accelerate deployment and unlock the full economic, social and environmental benefits of offshore wind.”
Tim Pick MBE, Commissioner, Clean Power 2030 Advisory Commission and Chair of OWGP, said:
“OWGP is proud to work in partnership with key public and financial institutions to align capital with national ambition and deliver greater impact across the offshore wind sector. Backed by private investment from the Offshore Wind Industry Council developers and stepping into a new role to help deliver the sector’s Industrial Growth Plan, we’re focused on ensuring funding flows to where it’s needed most. Through collaboration, we’re creating a more coherent, efficient route to investment that will accelerate the growth of our domestic supply chain, bring innovative projects to market faster, and deliver real economic value for communities across the UK. This is a clear signal to the market that we’re united in our ambition and moving at pace.”
Notes to editors:
Great British Energy is a publicly owned energy company. It will accelerate the roll-out of clean, secure, home-grown energy and help make Britain a clean energy superpower. Great British Energy recently announced £300 million of funding to invest in offshore wind supply chains with a focus on boosting domestic jobs, mobilising additional private investment, and securing new manufacturing facilities. This funding will be deployed predominantly as targeted grants to support and unlock UK supply chain projects alongside investments by the other institutions.
OWGP is the nominated Offshore Wind Industrial Growth Plan delivery body for CfD Allocation Round 7 (AR7). It will invest a share of participating generators’ Clean Industry Bonus (CIB) Minimum Standard commitments in facilities manufacturing, assembling or installing the technology priorities identified within the CIB Allocation Framework and the IGP. OWGP’s funding will be provided by private members of the Offshore Wind Industry Council (OWIC).
The National Wealth Fund is the UK government’s principal investor and policy bank, at the forefront of investing public money in support of the government’s growth and clean energy missions. The NWF will commit at least £5.8 billion over this Parliament to five subsectors which include ports and supply chains for offshore wind. It can also invest in offshore wind generation and will explore financing solutions (across its product offer of debt, equity and guarantees) where the sector faces private finance capacity or liquidity constraints. The NWF focuses its investments on capital intensive projects and businesses at late-stage development, construction, and commercialisation stages. For private sector projects its minimum ticket size is £25 million and for local authority led projects it is £5 million. To date the NWF has committed £227 million to offshore wind supply chain (including ports), with a further £145 million of private finance mobilised.
The Scottish National Investment Bank is Scotland’s state-owned development bank. As a mission-led impact investor, the Bank is investing commercially in the critical infrastructure needed, and the development of an internationally competitive offshore wind domestic supply chain, to support the development of floating and fixed offshore wind as a strategic priority. The Bank is working with the Scottish Government, Scotland’s Enterprise Agencies and Crown Estate Scotland to deploy up to £500 million of strategic supply chain investment committed by the Scottish Government over 5 years. Taking an informed view of the market, and sharing risk with the private sector, the Bank has already invested nearly £200 million in offshore wind supply chain opportunities in Scotland to date, across seven projects, alongside £700 million from third-party investors.
The Crown Estate has a diverse £16bn portfolio that includes urban centres and development opportunities; one of the largest rural holdings in the country; Regent Street and St James’s in London’s West End; and Windsor Great Park. It also manages the seabed and much of the coastline around England, Wales and Northern Ireland, playing a major role in the UK’s world leading offshore wind sector. The Crown Estate is proposing to invest up to £400 million of capital in the sector over the medium term: £50 million through its Supply Chain Accelerator Programme supporting early-stage project development works, and up to £350 million of capital funding through its Supply Chain Investment Programme which is intended to invest in ports, supply chain manufacturing and research and testing facilities.
Crown Estate Scotland invests in property, natural resources and people to create lasting value for Scotland. As a self-financing public corporation, Crown Estate Scotland funds investments, on a commercial basis, through revenue generated by the business. Working with partners to enable investment in the supply chain is a key priority for Crown Estate Scotland. The commitments and ambitions identified through offshore wind leasing provide the baseline to secure economic and social value for decades to come.
The Development Bank of Wales (Banc Datblygu Cymru) is a Welsh development bank that provides financial support for Welsh businesses and is owned by the Welsh Government. The bank provides loans for businesses to start up, strengthen and grow and also provides equity investments for already established businesses. To date, it has provided £958m of direct investment in Welsh businesses, supporting 49,678 jobs in the Welsh economy.