RenewableUK is welcoming new funding announced today for innovation to support the development of floating offshore wind technology. Joint funding by Government and industry of over £61m will target research and development of key components needed to install floating turbines, which can be deployed in deeper waters with higher wind speeds. 

The UK is the largest market in the world for floating offshore wind, and just last week over 15GW of new floating offshore wind farms were awarded seabed leases in Scottish waters by the Crown Estate Scotland. 

Already the UK is home to the world’s largest floating offshore wind farm, the 50MW Kincardine project. In the upcoming auction for new renewable energy capacity, the Government has set aside a dedicated budget of £24m to support new floating wind projects.

Commenting on the announcement, RenewableUK’s CEO Dan McGrail said: 
“Today’s announcement will help the UK to develop floating wind technology faster and bring down costs for consumers. The UK is currently the biggest market in the world for this cutting-edge technology and other countries are following our lead. Investing in innovation is vital to build up a UK supply chain that can meet the needs of our domestic market and seize the global opportunities that floating wind offers”. 

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