The UK government has launched the Clean Industry Bonus scheme, an investment initiative to support the development of green energy programmes.
Under the terms of the initiative, offshore wind developers can apply for financial support if they commit to investing in the UK’s most deprived regions, building low-carbon factories, or supporting net zero supply chains.
According to a statement, ‘industrial heartlands and coastal areas will receive a major economic boost’ through the scheme, ‘as the government backs renewable energy firms investing in industrial communities – backing good jobs through the government’s Plan for Change’.
The initiative will also reward developers who invest in more sustainable, low-carbon factories, offshore wind blades, cables and ports, in order to reduce industrial emissions across the clean energy supply chain.
Offshore wind development
Currently, the UK produces more offshore wind than any other European country, and the latest initiative forms part of the government’s strategy to achieve a fully clean power system by 2030.
Since July, the Labour-led government has invested some £34.8 billion in clean energy industries.
‘Clean energy superpower’
“We are backing our proud manufacturing, coastal and oil and gas communities with good jobs, skills and private sector investment – delivering on the government’s Plan for Change,” commented energy secretary Ed Miliband.
“This is our clean energy superpower mission in action, kickstarting growth, delivering energy security and transforming towns and cities as part of the transition – from the ports of Nigg and Leith to the manufacturing hubs of Blyth and Hull.”
According to Dan McGrail, CEO of RenewableUK, the offshore wind industry currently employs over 34,000 people in the UK, with the opportunity to treble this number by the end of the decade.
“Government initiatives like the Clean Industry Bonus, coupled with industry initiatives to support innovation and the upcoming Industrial Strategy, could drive hundreds of millions of pounds of private investment into new manufacturing,” he added.
The Clean Industry Bonus is available to offshore wind projects bidding for funding in the government’s upcoming renewable energy auction. With an initial £27 million allocated per gigawatt of offshore wind capacity, the total funding could reach £200 million if developers commit to 7-8 GW of new projects. Read more here.
