RenewableUK, The Crown Estate & Crown Estate Scotland 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 its development.
The IGP will build on the recent Supply Chain Capability Analysis which outlined a £92bn opportunity for the country if it can develop its capacity and expertise in a number of key areas.
The IGP will expand this further and set out the priorities and programmes to build the UK’s competitive advantage in a growing global market, meet innovation needs building on existing capabilities and close supply gaps that put its domestic targets at risk.
The strategic approach to offshore wind will be used to guide future investment as London seeks to build up its domestic clean energy supply chain in the face of increasing global competition.
Developing an IGP was a key recommendation of the final report to the UK government by 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” to 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 industry to meet the London’s offshore wind and energy security targets is essential to maximise the benefits in terms of jobs, growth and net zero.
The final IGP is expected to be published in early 2024.
RenewableUK chief executive 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”.