RenewableUK Shadow Board’s Post

We welcome the decision by the Department for Energy Security and Net Zero to advance the Future Port Talbot project to the Primary List phase of the Floating Offshore Wind Manufacturing Investment Scheme (FLOWMIS). Full announcement: https://lnkd.in/ec3URCQk   Henrik Lundgaard Pedersen, Chief Executive Officer of Associated British Ports, said “ABP is pleased that the UK Government is supporting the ambitious plan to transform the port of Port Talbot into a major hub for Floating Offshore Wind and green energy development. The FLOWMIS award, alongside significant ABP investment of more than £500 million, will begin to unlock a projected £1 billion of investment in Port Talbot and the surrounding area. This will develop a green economic hub supporting and creating nearly 10,000 jobs in South Wales and across the wider UK supply chain.   “ABP is grateful that its bid was also supported by local members of both UK and Welsh Parliaments, Neath Port Talbot Council, the Welsh Government and by local, national and international businesses in the floating offshore wind supply chain. We look forwarding to working closely with all stakeholders as we progress into the due diligence phase of the FLOWMIS process and work to deliver our plans at pace.”   ABP’s Future Port Talbot project would see the port transformed into a major hub for the manufacturing, assembly, and integration of Floating Offshore Wind (FLOW) components for projects in the Celtic Sea. This represents a major growth opportunity for the UK, with the prospect of creating a world-class manufacturing and supply chain hub in Port Talbot as well as providing opportunities for broader green energy and industrial activity, which will serve as a catalyst for wider economic regeneration in the South Wales industrial cluster.   ABP now wants to work at pace with Governments in London and Cardiff, as well as other organisations involved in the process, to take forward the Port Talbot development, incorporating the latest knowledge and experience of what in FLOW is a nascent industry.   The Port Talbot investment is part of ABP’s sustainability strategy, ‘Ready for Tomorrow’, launched in 2023. The strategy sets out plans for ABP to invest £2 billion into decarbonising its own operations by 2040 as well as supporting large-scale green energy infrastructure and industrial decarbonisation projects. Read the full strategy here: https://lnkd.in/e3sHjTGE   #FLOWMIS #FLOW #GreenEconomy #KeepingBritainTrading #ReadyForTomorrow #PortTalbot #NetZero

We welcome yesterday’s launch of a detailed Industrial Growth Plan, which sets out how to triple offshore wind manufacturing capacity over the next ten years. The collaborative study undertaken by KPMG on behalf of RenewableUK, the Offshore Wind Industry Council, the The Crown Estate and Crown Estate Scotland, will help guide UKIB’s investment activity for the sector. Our Senior Policy Advisor Lucy Crabtree and Director in Banking and Investments Nathalie Haller attended the launch. Nathalie said: “It’s great to see the offshore wind industry, in partnership with the Crown Estate and Crown Estate Scotland, come together to set out their shared view of the investment needs in the UK supply chain and outline a targeted approach to solve bottlenecks and de-risk delivery, as well as steer investment towards strategic priorities to build the UK’s competitive advantage. "We look forward to working closely with the sector to help deliver the investment needed to accelerate offshore wind deployment in line with net zero targets, boost manufacturing in the UK and deploy our capital in areas, which, as this Plan sets out, are expected to bring significant economic benefits to the UK.” Read the plan: https://lnkd.in/e9f6E6Bm #OffshoreWind #NetZero #IndustrialStrategy

Orsted's decision to scale back its expansion plans and reduce headcount reflects a pragmatic response to challenges in the wind energy sector. While this move may seem like a setback, I believe it demonstrates the company's commitment to adaptability and sustainability. By adjusting targets and investments, Orsted aims to ensure long-term viability and reassure stakeholders amidst market fluctuations. Overall, I think this approach signifies a strategic effort to navigate uncertainties while maintaining focus on driving the green transformation forward.

🌱 Innovation and Investment in Clean Energy: The Strategic Edge for Tomorrow's Leaders In the wake of Macquarie's strategic exploration to divest part of its stake in Cadent, a clear signal is sent to the business world: the transition to net-zero is not just an environmental imperative but a profound economic opportunity. The role of clean energy cannot be overstated. It represents a frontier for innovation, a catalyst for economic growth, and a cornerstone for building resilient businesses that can withstand the challenges of tomorrow. Why Clean Energy? A multi - faceted argument becomes clear: - Competitive Advantage: Businesses leading in clean energy adoption set themselves apart, showcasing commitment to sustainability and innovation. - Financial Performance: Investments in renewable energy and efficiency projects are proving to offer solid returns, reducing operational costs and enhancing profitability. - Regulatory Compliance: With global emissions targets tightening, investing in clean energy ensures compliance and positions businesses as leaders in sustainability. - Brand Reputation: Consumers and clients are increasingly favoring companies with strong environmental credentials, making clean energy investment a powerful tool for brand enhancement. Is this beginning of the the charge towards a sustainable, profitable future? #CleanEnergyInvestment #InnovationInSustainability #BusinessForClimateAction #BCSDA Read more: https://lnkd.in/gnjQBFGB Macquarie Group Peter Bakker Joe Phelan Murray Griffin

Exciting news from our partners at The Scottish National Investment Bank and UK Infrastructure Bank about their joint £100m credit facility for Haventus to support offshore wind infrastructure at Port of Ardersier. Scotland is well positioned to take a leadership role in offshore wind, with the sector and local supply chain vital to the future growth of our economy. This development will further enhance the attractiveness of the Inverness and Cromarty Firth Green Freeport, enticing more investors and businesses which will benefit all of Scotland. This announcement is a great example of how public and private sectors can work in partnership to unlock investment, create well paid jobs and enable the wider environmental benefits of the energy transition. That’s why it’s a key focus of our missions-based approach at Scottish Enterprise. With the All Energy sector event bringing together key figures from across the industry later this week in Glasgow, there could hardly be a better time to talk about collaboration in the energy transition. If you are heading to All Energy, please do visit colleagues on the Scottish Enterprise stand - K10 - to find out more about the support we can offer. https://lnkd.in/dK5ShcHq #ScotWind #EnergyTransition #AllEnergy24 #RenewableEnergy

Last night’s launch of the Offshore Wind Industrial Growth Plan was a pinch-me moment. Great to see stakeholders from across the sector ecosystem pulling together to support supply chain development. Yes, an economic opportunity, but one highly correlated with social value and a just transition. My key takeaways: ✅Public-private collaboration ✅A thorough, well-evidenced make-or-buy analysis has given us a clear North Star ✅Powerful alignment of Offshore Renewable Energy Catapult, High Value Manufacturing Catapult and National Composites Centre focusing on areas of comparative advantage, technological disruption and high value manufacturing - learning from aerospace, automotive, pharma ✅Funding is available: GIGA, ScotGov, UKIB, SNIB, UKEF, TCE Supply Chain Accelerator, SIRs, Industrial Growth Fund - and of course OWGP (Apologies for the acronym-fest!)  ✅Confidence in the domestic project pipeline, including planning reforms, grid connections, port capacity and CfD rounds is fundamental ✅Delivery starts now ! Thanks to the KPMG, RenewableUK, OWIC, The Crown Estate and Crown Estate Scotland teams as well as wider industry stakeholders who have worked so hard to pull the IGP together. Wafa Jafri asked how the homework had gone: here’s Mr Pick’s gold star: ⭐! https://lnkd.in/evjWrsRW Offshore Wind Growth Partnership #offshorewind #industrialgrowthplan

On the eve of this government's first International Investment Summit, over £24 billion 📈 of investment has just been announced for #cleanenergy projects in the UK. There is no stronger signal that the energy transition is not only necessary, but also profitable and future-proof, than businesses investing capital in these sectors ⚡ This follows a recent £22bn government investment commitment to Carbon Capture and Storage projects. #UKinvestment Among the highlights: 🔋 Iberdrola doubles its UK investment with £12bn in ScottishPower 🌊 Ørsted and Greenvolt Group together invest £10.5bn in offshore wind projects 💨 SeAH Wind Ltd is expanding its Teesside facility with an additional £225m investment and 750 jobs.   The UK is creating great conditions for long-term growth and innovation in the energy sector. Find more #opportunities here 👉 https://bit.ly/3Njwpjj View the #PressRelease here: 👉 https://lnkd.in/eaGYArkU

𝗖𝗵𝗮𝗿𝘁𝗶𝗻𝗴 𝗦𝗵𝗲𝗳𝗳𝗶𝗲𝗹𝗱 𝗚𝗿𝗲𝗲𝗻'𝘀 𝗚𝗿𝗼𝘄𝘁𝗵 𝗝𝗼𝘂𝗿𝗻𝗲𝘆 𝗪𝗶𝘁𝗵 𝗜𝘁𝘀 𝗖𝗘𝗢 Listen to 𝗠𝗿 𝗕𝗿𝘆𝗮𝗻 𝗞𝗲𝗲, 𝗖𝗘𝗢 𝗼𝗳 𝗦𝗵𝗲𝗳𝗳𝗶𝗲𝗹𝗱 𝗚𝗿𝗲𝗲𝗻 , as he shares his strategic vision for propelling the company's growth trajectory in the burgeoning offshore renewable energy sector. Established in 2021 and headquartered in Singapore, Sheffield Green leverages its extensive footprint across key markets like Japan, Poland, and Taiwan to deliver comprehensive human resource solutions along the renewable energy value chain. In this engaging feature, Mr Kee delves into Sheffield Green's industry-leading training programmes and workforce solutions tailored for the offshore wind sector. He also unveils the company's ambitious plans to expand into strategic markets like the US, Denmark, and Norway, as well as its roadmap for diversifying into complementary services like operations and maintenance. Gain invaluable insights into the visionary leadership driving Sheffield Green's rapid growth in this must-watch video! 🔗 𝙍𝙚𝙖𝙙 𝙢𝙤𝙧𝙚: https://buff.ly/4a5fPx5 #SheffieldGreen #CEO #ClientFeature #GEMCOMM #GC #InvestorRelations #GEMCOMMIndustryInsights #IndustryInsights #GEMCOMMClientFeature #GCCF #GEMDigitalMedia

🌍The UK has unveiled a groundbreaking partnership between Great British Energy of Department for Energy Security and Net Zero and The Crown Estate to attract up to $118 billion (£60 billion) in private investment into the clean energy sector. 🚀This strategic move aims to position Britain as a global clean energy leader, reduce fossil fuel dependency, and drive economic growth. 💡Great British Energy, supported by $16 billion (£8.3 billion) in new investment, will spearhead clean power projects across the UK. 📜 This initiative follows the recent lifting of bans on onshore wind and solar energy production, marking a new era for the UK’s energy policy. 💡The Crown Estate, managing a $31 billion (£16 billion) portfolio, aims to develop up to 30GW of new offshore wind capacity by 2030—enough to power nearly 20 million homes. 🌊 This collaboration will halve development times and attract substantial private investment. 📄Supporting legislation will empower Great British Energy and The Crown Estate to deliver these objectives, marking a pivotal moment in the UK’s energy policy. …… Enjoyed this post? 👍Like 💬Comment 💌Share 🔔 Subscribe Sahil Gandhi Atif Khan Our posts help people interested in #impactinvesting, #responsiblefinance, #ESG and #sustainability stay informed. 🔗 Follow Wholesum and Dr Tanvir Uddin for more insights, news, and articles. #CleanEnergy #SustainableFuture #UKInnovation #EnergyIndependence #GreenGrowth

Time to Change or Time has changed? ➡️ Some takeways of the panel on Renewable Energy at #TimetoChange forum In Deauville, moderated by Patricia Laurent 💰 Investment needs are hudge to meet the 2030 European renewable energy targets. A lot has been done but we need to accelerate! 📈 The good old days of single solar asset with feed in tariff is now over. But this represents an opportunity for the asset class to be profitable for sponsors with the adequate skills, knowledge and technology mix. And for debt and equity investors with the adequate expertise! ▶️ Growing and sustained pipeline of transactions + higher returns for the safest postion in the financing structure thanks to higher interest rate and complexity premium => Time has changed in a positive way for infrastructure debt investors ! Many thanks to GREENUNIVERS, Option Finance and Association française des investisseurs institutionnels (Af2i) for organzing this high quality event.