The Industrial Growth Plan (IGP) will include a set of priorities to build on the nation’s competitive advantage in the offshore wind industry.

RenewableUK, The Crown Estate & Crown Estate Scotland have confirmed the development of a long-term strategy to grow the UK offshore wind industry. With support from KPMH, The IGP will expand on the recent Supply Chain Capability Analysis, which provided details of an opportunity valued in the region of £92 billion for the nation if it is prepared to develop its capacity and experience in various fields.

The IGP will take this strategy further by creating a set of priorities and plans to build on the UK’s competitive advantage in a growing global market, delivering further innovation by building on the nation’s existing potential and reducing supply gaps that are placing pressure on domestic targets. The strategic approach to offshore wind will support future investment as London explores ways to increase its domestic clean energy supply chain while competition continues to rise worldwide.

Developing an IGP was a top priority of the final report to the UK Government by Offshore Wind Champion Tim Pick, who urged for a comprehensive strategic ‘make or buy’ analysis, incorporating the UK’s clear advantages of the global rise in offshore wind and generate the expected pipeline of domestic projects. The industry believes a structured plan to meet London’s offshore wind and energy security targets is critical to harness the benefits regarding jobs, growth, and achieving net zero. The final version of the IGP is due to be published at the beginning of 2024.

Dan McGrail, the CEO of RenewableUK, explains that the UK has an existing foundation to develop a competitive supply chain but faces challenges of high inflation, investment disruption, and increased goals from other nations. McGrail highlights that now is the right time to apply a more strategic approach that defines the UK’s role and the value offering the UK can bring to the international supply chain and achieve our domestic targets. The Industrial Growth Plan will highlight the main strategies needed to capture value within the lifecycle and guide investment into vital areas to grow the economy and secure our energy future.

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