The Crown Estate will fund a new regional supply chain programme to support small and medium-sized businesses in South-West Wales entering the floating offshore wind sector.
The 18-month initiative will be delivered by ORE Catapult’s Fit For Offshore Renewables (F4OR) programme and will focus on companies in the Swansea Bay City Region.
The Crown Estate has committed £100,000 to the scheme, with matched funding provided by the Swansea Bay City Deal, which is co-funded by the Welsh and UK governments.
The programme was announced during a Crown Estate event at the Senedd in Cardiff, where the organisation presented its Wales Review and highlighted opportunities linked to floating wind development in the Celtic Sea.
Rebecca Williams, director for devolved nations at The Crown Estate, said: “The F4OR scheme will help businesses in South Wales take advantage of the many opportunities presented by the development of a new floating offshore wind industry in the Celtic Sea.”
Cabinet secretary for economy, energy and planning Rebecca Evans said: “This important programme will support local companies bidding for work in the floating offshore wind industry.”
ORE Catapult director of development and operations Andy Macdonald said South Wales had the skills and potential to support growth in floating wind.
He added: “The opportunity for local innovative companies to tap into the huge economic potential is clear, and this support is specifically designed to help those companies turn potential into reality.”
Expressions of interest will open later this month, with participating firms assessed on their growth ambitions and alignment with the Celtic Sea Blueprint.
The funding forms part of a broader UK-wide offshore wind supply chain push by The Crown Estate, which includes up to £400m in capital support and a £50m Supply Chain Accelerator already active in Wales.