Global Energy Group’s Post

The UK's offshore wind industry is at a critical juncture, requiring substantial investment to enhance supply chain capabilities and build resilience. The government’s “Clean Power 2030” mission calls for a doubling of offshore wind build-out rates, involving larger turbines, deeper waters, and bigger structures. We are at the forefront of efforts to stimulate the market, playing pivotal roles in recent initiatives such as the Strategic Investment Model (SIM), the Floating Offshore Wind Manufacturing Investment Scheme (FLOWMIS), and the Green Industries Growth Accelerator (GIGA). In our latest publication, we share our key takeaways and explore how the supply chain can collectively accelerate investment in offshore wind ports, associated infrastructure, and manufacturing capacity to strengthen energy security. Read our latest insights on unlocking investment in the UK offshore wind sector here: https://lnkd.in/eKfCBkBU #OffshoreWind #Renewables #CleanEnergy #SustainableFuture

Worth checking out if you work with new technologies in the offshore renewable energy space.

⚡Big day for offshore wind as RenewableUK unveils its Industrial Growth Plan (IGP) together with the Offshore Wind Industry Council, The Crown Estate and Crown Estate Scotland. The plan sets out how to triple offshore wind manufacturing capacity over the next ten years, firmly establishing the UK as a leader in a surging global market📊. We’re proud to be part of the UK’s offshore wind industry and it’s great to see how this exciting sector can come together to achieve amazing benefits - the Industrial Growth Plan details how offshore wind can boost energy security, grow the economy by £25bn and support over 10,000 jobs a year by 2035. 🤝 Read the media release and the full IGP here👇  https://lnkd.in/ep5BpFuc   #offshorewind #investment #netzero #cleanenergy 

Yesterday’s Scottish Budget 2025-2026 confirmed a further £150 million investment in Scotland’s offshore wind sector, including £25 million to support the energy transition, demonstrating Scotland’s commitment to becoming a global leader in green energy. Brian McFarlane, SOWEC’s industry co-chair, highlights how this funding will accelerate the growth of Scotland’s offshore wind supply chain, ensuring we have the skills and infrastructure to deliver projects at speed. #SOWEC #ScottishBudget #RenewableEnergy

TagEnergy reached financial close on the second stage of its A$4 billion ($2.6 billion) Golden Plains Wind Farm in Victoria, Australia. The 1.333 GW Golden Plains Wind Farm will comprise the 756 MW Stage 1 and 577 MW Stage 2 projects, which is set to deliver 9% of Victoria’s energy when completed in mid-2027. TagEnergy secured non-recourse finance from a global group of lenders, including: the Clean Energy Finance Corporation, Commonwealth Bank of Australia, Westpac, Export and Investment Fund of Denmark, Mizuho Bank, Natixis Corporate & Investment Banking, Bank of China, and Deutsche Bank. After completing the financing, TagEnergy launched construction work on Stage 2 of the project, featuring 93 wind turbine generators, with Vestas in place to deliver the EPC contract. “We couldn’t be prouder to be delivering the largest wind farm in the Southern Hemisphere,” said TagEnergy’s Managing Partner – Australia, Andrew Riggs. “This mega-project materially improves Victoria’s energy security, puts downward pressure on electricity costs and dramatically reduces carbon pollution. Together with our partners, we are accelerating the energy transition." CEFC CEO Ian Learmonth added: “In a further demonstration of the success of our innovative ‘bridge to contract’ finance, CEFC capital will enable construction to begin before Stage 2 secures power purchase agreements, ensuring faster deployment of clean, green power to Victorian consumers. This strategy helped fast track construction of Stage 1, which has subsequently contracted 60 per cent of its energy.” Golden Plains Wind Farm Stage 1 (approximately 25% complete) is expected to start producing green energy in Q1 2025, with Stage 2 to follow in mid-2027. Once online, Golden Plains Wind Farm will provide enough clean energy to power more than 750,000 homes, or the equivalent of every home in regional Victoria. TagEnergy and the lenders were advised by White & Case LLP, Lazard Australia, Chatham Financial, Aurora, Unity Willis Towers Watson, Aurecon, RINA, ClayMatter, KPMG, KWM, BMS Group, and Kromann Reumert. #cleanenergy

Last week Ralph T., director of offshore floating wind at our joint venture partner SSE Renewables, represented the Ossian project at the Recharge Floating Wind Forum digital roundtable. 🌐 The sessions showed significant ongoing support from key parts of the global floating offshore wind industry, in the context of a challenging few years for offshore wind. Some key takeaways from the day: 📈 New markets are continuing to develop but established markets are developing at different rates, based on the effectiveness of domestic policy and industrial strategy 🔋 There is a positive future for floating offshore wind, with it being seen a key global opportunity from early 2030s and beyond 👏 The industry has already achieved a significant milestone with a floating offshore wind project reaching final investment decision utilising full non-resource project finance, but the cost of capital remains a key driver of LCOE and the industry needs to work to reduce real and perceived investment risks Overall, the global floating offshore wind opportunity continues to show strong growth, but there remains a significant amount of work to do to deliver a growing pipeline of projects whilst maximising the economic, social and environmental benefits for FOW. You can watch the full event recording here: https://lnkd.in/eyBF-xCb #FloatingOffshoreWind #RenewableEnergy #OffshoreWindFarm

The World Bank Group’s ESMAP - Energy Sector Management Assistance Program and IFC - International Finance Corporation, launched last week at the Global Wind Energy Council (GWEC) APAC Wind Energy Summit in #Incheon, #SouthKorea the The Strategic Value of Community Benefits in Offshore Wind Development Report Dec. 2024 🔍 Advisory council from Global Wind Energy Council (GWEC) helped shape the report, alongside, Equinor, Ocean Conservancy, Ørsted, and SSE Renewables. 🌍 "The Strategic Value of Community Benefits in Offshore Wind Development" paper explores the critical role of community benefit programs in offshore wind development and their impact on project success. As the global offshore wind market expands, the report offers key insights on how to ensure projects are socially accepted and economically sustainable. 🔑 Key Findings: ✅ Tailored community benefits are essential to local acceptance and project success ✅ These programs need to be aligned with developers’ goals and project economics ✅ Building trust and securing a social license to operate is key to long-term success Osama Fawzy Georgy HENEIN, MBA

It's a big day for offshore wind in the UK and our path to reach net zero, as the industry launches its plan to triple offshore wind manufacturing capacity over the next ten years. The Industrial Growth Plan – launched today by RenewableUK the Offshore Wind Industry Council, Crown Estate and Crown Estate Scotland – sets out the offshore wind sector's plan to create an additional 10,000 jobs a year and add £25 billion to the UK's economy over the next decade. We're proud to support this initiative and welcome any measures that will build up the UK's offshore wind supply chain and speed up wind farm development. Read more about the Industrial Growth Plan at https://ow.ly/KFqM30sBS1z #AcceleratingCleanEnergy #OffshoreWind #SupplyChain #Investment

Insightful discussions at the Scottish Renewables Offshore Wind Conference 2025 in Glasgow last week 🏴󠁧󠁢󠁳󠁣󠁴󠁿   The UK has the capacity in its pipeline to meet the nation’s 2030 clean energy target. The focus must now shift to delivering these projects and unlocking £40 billion in capital investment to realise that capacity.   We are delighted to have been awarded an Offshore Wind Growth Partnership Development Grant. This funding supports businesses with near-to-market or market-ready solutions that demonstrate strong growth ambitions in the sector and align with the Supply Chain Analysis and Industrial Growth Plan. Our project centres on an innovative deployment and installation solution for our PelaFlex deep-water wind platform.   Exciting times lie ahead!   Read more about the OWGP Development Grant 👉 https://bit.ly/3Wzg9Qi    #SROFFSHORE25 #OffshoreWind #FloatingWind

It's a hugely exciting day for offshore wind in the UK, as the industry launches its plan to triple offshore wind manufacturing capacity over the next ten years. The Industrial Growth Plan – launched today by RenewableUK the Offshore Wind Industry Council, Crown Estate and Crown Estate Scotland – sets out the offshore wind sector's plan to create an additional 10,000 jobs a year and add £25 billion to the UK's economy over the next decade. We're proud to support this initiative and welcome any measures that will build up the UK's offshore wind supply chain and speed up wind farm development. Read more about the Industrial Growth Plan at https://lnkd.in/ep5BpFuc #AcceleratingCleanEnergy #OffshoreWind #SupplyChain #Investment