The Scottish Government offers unparalleled support to the offshore wind sector. Consequently, there are numerous funds and services available to help you grow your business in offshore wind.
Funds and Services Available
Below are just some of the funds and services available to companies looking to invest in in Scotland.
Prototyping for Offshore Wind Energy Renewables Scotland (POWERS)
POWERS is a £35 million funding programme to support the development of next generation offshore wind turbines in Scotland. It offers funding to support costs associated with full scale production and focuses on demonstrable economic impact in Scotland.
Scottish Innovation Foundation Technologies Fund (SIFT)
Innovation in deep-water offshore wind foundation design and installation will be paramount to the development of offshore wind in Scotland. Scottish Enterprise, Highlands & Islands Enterprise and the Scottish Government have designed SIFT to support the development, installation and testing of innovative offshore wind foundations. SIFT offers funding for prototype building and full scale production in Scotland and has an open call of up to £15 million.
The Green Investment Bank is based in Edinburgh, Scotland, and is the first bank of its type in the world. It was created by the UK Government and capitalised with an initial £3.8 bn of public funds. This finance is used to back green projects- including offshore wind projects - on commercial terms.