RenewableUK, the Offshore Wind Industry Council, The Crown Estate & Crown Estate Scotland have announced they are developing a new Industrial Growth Plan (IGP) to boost long-term growth of the UK offshore wind sector and have appointed KPMG to support development of the IGP.
An Industrial Growth Plan was a key recommendation of the final report to Government by the Offshore Wind Champion, Tim Pick, who called for a ‘sober and thorough strategic competency “make-or-buy” analysis which takes into account the UK’s comparative advantages and opportunities for disruption’ so that we can position British industry to take advantage of the global boom in offshore wind and deliver the pipeline of domestic projects.
Industry believes a robust plan for growing our industry to meet the UK’s offshore wind and energy security targets is essential to maximise the benefits in terms of jobs, growth and net zero.
The IGP will build on the recent Supply Chain Capability Analysis which outlined a £92bn opportunity for the UK if we can develop our capacity and expertise in a number of key areas. The IGP will expand this further and set out the priorities and programmes to build UK competitive advantage in a growing global market, meet our innovation needs building on our existing capabilities and close supply gaps that put our domestic targets at risk.
The strategic approach to offshore wind will be used to guide future investment as the UK seeks to build up its domestic clean energy supply chain in the face of increasing global competition.
The final IGP is expected to be published in early 2024.
Commenting on the Industrial Growth Plan programme, RenewableUK CEO Dan McGrail said:
“The UK has a solid foundation on which to build a globally competitive supply chain but we’re battling headwinds from high inflation, investment challenges and increased ambition from competitor nations. That’s why this is the right time to take a more strategic approach that defines our position and the unique value offering the UK can bring to the international supply chain and meet our domestic targets. The Industrial Growth Plan will set out strategies for capturing value across the lifecycle and steer investment into critical areas to grow the economy and secure our energy future”.
Gillian Morrison, Supply Chain Development Manager at Crown Estate Scotland said:
“Scotland has a major opportunity to deliver lasting economic value from the expansion of offshore wind, and we want to build on our existing capabilities in offshore energy to help grow the whole UK supply chain.
“This project will help governments and industry to identify the supply chain investments that offer maximum long-term impact at a time when economic pressures are being faced across the sector. We are pleased to be a part of this strategic work and look forward to delivering on its recommendations with our partners”.
Will Apps, Head of Marine Development, The Crown Estate, said:
“The development of offshore wind is an opportunity to drive investment, boost economic growth, improve energy security and support the energy transition. With more than 13.6 GW of capacity already commissioned, a significant pipeline and early mover advantage in new technologies such as floating wind, the UK is well-placed to capture the domestic and international opportunities associated with the market. The IGP will provide the pathway to ensure this potential is realised by identifying interventions and steering investment to maximise the benefits in terms of jobs, growth, skills and equally ensure the capability exists to deliver the future offshore wind portfolio.
KPMG Partner, Wafa Jafri said:
“The Industrial Growth Plan is critical for the sector’s long-term ambitions as it will promote the expansion of the offshore wind sector in the UK while identifying strategic areas for growth within this vital global industry”.
Further background on the IGP is available on our blog The UK's Place in the Global Race for Offshore Wind Investment