Global Underwater Hub (GUH) and Scottish Enterprise have signed a memorandum of understanding (MoU) to collaborate on establishing a subsea supply chain ecosystem as a global centre of excellence for floating wind.
The partners said on 18 February that the floating wind market was estimated to be worth GBP 1 trillion (approximately EUR 1.2 trillion) globally and GBP 270 billion (approx. EUR 326 billion) domestically, and that the strategic partnership aims to maximise economic value for Scotland, and the wider UK, from the projected rapid global growth in floating offshore wind.
“The growth of floating offshore wind brings massive opportunities for our underwater supply chain. ScotWind alone represents £28billion in development, manufacturing, and installation opportunities to bring 30GW of generating capacity online over the next decade and a further £33billion from operations and maintenance over the full life of a windfarm” , said Neil Gordon , chief executive of the Global Underwater Hub.
“With extensive experience, skills and technology, honed over five decades in offshore energy, our supply chain is perfectly positioned to meet the challenges and complexity of floating offshore wind.”
Under the MoU, Global Underwater Hub and Scottish Enterprise will identify and bring together the companies, organisations, facilities, resources and expertise that can support the growth of the floating offshore wind industry in the UK and internationally.
The partnership will also work on identifying gaps in the UK’s underwater supply chain capability, infrastructure, resources and expertise, relative to the needs of the floating wind market, with targeted support provided to fill those gaps. Focus areas include subsea cable systems, mooring and anchoring as well as underwater operations and maintenance, according to a press release from Global Underwater Hub.
Furthermore, funding and project development are also within the scope of the partnership. In this area, Global Underwater Hub and Scottish Enterprise will be working together to co-design and develop initiatives which will make use of public sector funding to support projects in the supply chain.
The partnership also plans to develop and execute joint strategies for business growth services, investment campaigns and foreign direct investment, including financial support and products to attract industry stakeholders, maximising efficient use of resources and reducing duplication.
“Our vision is for Scotland to be viewed around the world as a centre of excellence for offshore wind, with supply chains that are world-leading in terms of value, competitiveness and service”, said Suzanne Sosna , Scottish Enterprise’s Director for Energy Transition.
“Collaborative working is essential to the future success of the sector. This MoU ensures we will operate hand-in-hand with Global Underwater Hub to really maximise opportunities for supply chain companies, but also to get us to that place where the rest of the world looks to Scotland for the supply chain that will power the energy sector of the future.”