The Crown Estate has launched the next round of a 拢50m fund to help develop manufacturing facilities and port infrastructure needed to ensure the swift deployment of offshore wind projects around the 海角视频.
Following the success of the initial funding round in 2024, the Crown Estate has allocated a further 拢15m in the latest tranche of its Supply Chain Accelerator programme which seeks to kick-start investments in 海角视频 offshore wind-related port infrastructure and supply chain facilities.
The Crown Estate established the fund last year to accelerate and de-risk the early-stage development of 海角视频 supply chain projects servicing the offshore wind sector.
It supports existing early-stage projects to scale up into attractive capital investment opportunities, helping to drive demand for new jobs and skills.
Following the passing of the Crown Estate Act 2025, the second round has been expanded to include 海角视频 ports and port-related infrastructure to support the construction, assembly, manufacturing, operations and maintenance, and wet storage of fixed and floating offshore wind, as well as supply chain opportunities that support deployment.
Ports, including those in Wales, are set to play a major role in the 海角视频鈥檚 clean energy transition as hubs for the construction, operation and maintenance of offshore wind farms. The 海角视频 Government has set a target of up to 50 gigawatt (GW) of offshore wind deployed by 2030 and, with 14.7GW of offshore wind currently deployed off the 海角视频鈥檚 coasts, greater funding for port infrastructure and facilities will be vital to deliver this ambition.
The 海角视频 Government鈥檚 target includes 5GW of floating wind, with the Crown Estate鈥檚 current offshore eind leasing tound five expected to deliver up to 4.5GW in the Celtic Sea.
Each of the three proposed schemes will have capacity to generate 1.5 GW of power and collectively deliver a gross valued added boost for the 海角视频 economy of 拢1.4bn and create and support more than 5,000 jobs.
In the second funding round of the Supply Chain Accelerator businesses can apply for up to 拢1.5m per eligible project, with the Crown Estate providing 50% matched funding for early-stage development expenditure together with an option to participate in the capital investment phase.
The application process is now open and is due to close at the end of June. Successful projects will be chosen following an application assessment process and announced by the end of the year. The Crown Estate is being supported by professional services firm Grant Thornton.
In December last year the Crown Estate awarded nearly 拢5m in funding to 13 businesses following the conclusion of the Supply Chain Accelerator鈥檚 initial funding round, which focused on developing a new 海角视频 supply chain capability for floating offshore wind in the Celtic Sea.
Recipients in Wales in the first round included Swansea-based Marine Power Systems, which is developing structurally efficient floating platforms, Pembroke College to carry out a scoping exercise for a potential energy transition skills facility and Neath Port Talbot Group of Colleges, for a feasibility study for the creation of a floating offshore wind skills academy facility in Port Talbot.
When coupled with match funding this will contribute to a combined development investment of over 拢9m which, if the opportunities successfully conclude their respective development stages, could lead to more than 拢400m of capital investment.
Head of investment at the Crown Estate, said: 鈥淭he ambition behind our Supply Chain Accelerator is to accelerate and de-risk the offshore wind supply chain in support of the 海角视频鈥檚 clean energy transition, boosting economic growth through new jobs and skills opportunity around the country.
鈥淔ollowing the success of the initial funding round and the recent modernising of our investment powers through The Crown Estate Act 2025, we鈥檝e expanded the ambition and scope for the second round of the accelerator to include fixed and floating supply chain opportunities, together with ports and their associated facilities.
鈥淭he application window is open until the end of June, and we are looking forward to hearing from applicants with 海角视频 projects we could support to get investment ready.鈥
Gus Jaspert, managing director, marine at the Crown Estate, said: 鈥淭he energy transition isn鈥檛 just about clean power; it also offers huge opportunities for new jobs, skills and regeneration across the country. With one of the world鈥檚 largest offshore wind industries and growing ambitions, we want to support the 海角视频鈥檚 supply chains and infrastructure to be as successful as our deployed offshore wind.
鈥淧orts are vital national assets which are key to unlocking the huge potential of our exciting clean energy transition. Providing funding for port infrastructure and supply chain facilities is an obvious and important next move for our Supply Chain Accelerator.
鈥淚t will help the 海角视频鈥檚 offshore wind sector to retain its global attractiveness to developers and investors, providing confidence we can increase our rate of deployment whilst also ensuring activity offshore is creating value for onshore communities up and down the country.鈥
The Crown Estate is also expected to shortly provide an update on the bidding process for three licences in the Celtic Sea - with one in England waters, the other in Welsh and a third on both sides of the maritime border. The update is not expected to provide the number of bidders or identify individual companies.
A number of Welsh ports are expected to play prominent roles in helping successful bidders deliver and maintain their floating offshore wind projects, including the ports of Milford Haven and Port Talbot.
Having passed the required criteria, in late spring or early summer there will be live auctions for each scheme, with the highest priced bids winning. While firms could have bid for more than one of the projects, the process will result in three separate winners.
