UK government announces £30 million offshore fund

UK: The UK government has announced the creation two funds totalling a £30 million to go to companies developing innovations for the offshore wind sector.

The Department of Energy and Climate Change (DECC) said the funds would be equally split into the Offshore Wind Component Technologies Development and Demonstration scheme, and another to be announced at a later date.

The £5 million allocated to the Offshore Wind Component Technologies Development and Demonstration scheme is currently open to companies developing ideas to improve offshore wind systems. This could come in the form of enhanced turbine blades and foundation designs.

The allocation of the remaining £10 million for the first scheme will be announced next year. DECC was unable to confirm when the second offshore scheme will be announced.

Speaking about the move climate change minister Greg Barker said: "This new fund will help to nurture some of the best ideas to improve the performance of wind turbines, from their design to their operation and even how they’re maintained.

"Making turbines work more efficiently will bring down the costs of offshore wind making them attractive to build and helping to meet our climate goals more affordably. Offshore wind not only makes sense for our energy security and the environment, but the economy too, bringing jobs and economic growth."