Wedoany.com Report-May 2, UK Prime Minister Sir Keir Starmer has announced an initial £300 million investment through Great British Energy to bolster domestic offshore wind supply chains. This funding is expected to attract billions in private investment, supporting clean energy projects, creating thousands of jobs, and revitalizing industrial regions across the UK.

The investment, expedited ahead of the Comprehensive Spending Review, complements £43 billion in private funding pledged for clean energy since July 2024. It will support the development of manufacturing components for offshore wind, such as floating platforms and cables, strengthening the UK’s capacity to meet its 2030 clean power goals. The initiative aligns with the government’s Industrial Strategy, emphasizing homegrown supply chains for sustainable energy.

Sir Keir stated: “Delivering the Plan for Change means winning the race for the clean energy jobs of the future, which will drive growth and help us reach clean power by 2030. That is why I am bringing forward much-needed investment in our domestic offshore wind supply chains, strengthening our security and creating good jobs for our welders, electricians, and engineers.”

Energy Secretary Ed Miliband added: “It is only by taking back control of our energy that we can protect families and businesses from the rollercoaster of global markets we don’t control. That is why this Government is doubling down on our clean energy superpower mission - driving economic growth, good jobs and investment across our country.”

The announcement coincides with the Summit on the Future of Energy Security in London, hosted by the UK Government and the International Energy Agency. The two-day event brings together global leaders, including EU Commission President Ursula von der Leyen, to discuss accelerating the clean energy transition. UK officials, including Ed Miliband, Business Secretary Jonathan Reynolds, and Great British Energy Chair Juergen Maier, are inviting global clean energy investors to participate in UK projects.

Dan McGrail, interim chief executive of Great British Energy, said: “Great British Energy will help the UK win the global race for clean energy jobs and growth by investing in homegrown supply chains and ensuring key infrastructure parts are made here in Britain.” Jane Cooper, deputy chief executive of RenewableUK, noted: “This new Government funding is a clear signal of intent to secure those priorities and is vital to unlocking further co-investment from industry.”

The £300 million is part of an £8.3 billion allocation for Great British Energy over the current parliament. Companies can apply for grants by demonstrating long-term investment in UK supply chains, fostering economic growth and energy security.