£500,000 earmarked to help 16-24 year olds enter the industry offshore wind sector

SSE Renewables, Japanese conglomerate Marubeni Corporation (Marubeni) and Danish fund management company Copenhagen Infrastructure Partners (CIP) have announced that up to £15 billion would be added to the Scottish economy by their proposed offshore wind projects in Scotland via the Crown Estate Scotland’s seabed leasing process.

The partnership has also announced that their combined ScotWind projects would enable a £100 million fund to directly invest into Scottish supply chain companies to support the development of their projects should the partnership’s ScotWind bids be successful.

This funding will support the overall ambition of the partnership to achieve spending of circa 50% with Scottish suppliers in the projects over their lifetime.

The SSE Renewables-Marubeni-CIP supply chain fund will support Scottish businesses, including those from the Oil and Gas sector, to enter the offshore wind sector; will encourage the existing supply chain to establish new facilities in Scotland; will upgrade Scottish port facilities to accommodate future offshore wind deployment; and will support contractual security requirements.

CIP also said its partnership is fully committed to the UK and Scotland’s future supply chain and the green recovery and they will be investing £500,000 of the proposed fund to help 16-24 year olds enter the industry and help the supply chain bounce back from the COVID-19 pandemic.

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