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OWIC welcomes comprehensive package of measures to build investor confidence in offshore wind

23 Nov 2023

Commenting on green industrial growth measures announced in the Autumn Statement and the Government’s response to Electricity Networks Commissioner Nick Winser’s report, Richard Sandford, Co-Chair of the Offshore Wind Industry Council (OWIC), said:

“The Chancellor has made a number of welcome announcements in his Autumn Statement which will help to accelerate offshore wind deployment and enable us to build more clean energy infrastructure. Industry looks forward to working closely with the Government to make these reforms a success and strengthen the UK’s position as a global leader in offshore wind.”


“We welcome the certainty provided by permanent capital allowances for investment in vital new offshore wind projects. Alongside a £960 million green manufacturing fund, the extension of tax relief for freeports, and the recent uplift in the administrative strike prices for the next CfD auction, these measures will help boost private investment in our world-class sector.”


“On the grid, we are grateful for the Government’s extensive response to the landmark report by the Electricity Networks Commissioner Nick Winser on speeding up connection times. The ambition to reduce connection delays from 5 years to 6 months would remove one of the most significant barriers facing the industry.”


“As the Government and industry continue to work closely together on an Industrial Growth Plan for offshore wind, we are developing a comprehensive blueprint for industrial transformation. Our recent analysis has found investment in the offshore wind supply chain can unlock over £90 billion of economic activity across the UK over the next two decades. The proposals announced yesterday are a positive step forward to help us to achieve this.” 


The Government’s response to Electricity Network Commissioner Nick Winser’s report can be found here


The Chancellor’s Autumn Statement can be found here



For further information, please contact Sam Willstead, Communications Officer, Offshore Wind Industry Council, RenewableUK.


About OWIC:

The Offshore Wind Industry Council (OWIC), a senior Government and industry forum, was established in May 2013 to drive the development of the world-leading offshore wind sector in the UK. It is comprised of members drawn from the leading UK and global firms in the offshore wind industry, including developers and original equipment manufacturers.

The Council oversees and drives the implementation of the Offshore Wind Sector Deal, co-Chaired by Industry and the UK Minister of State for Energy Security and Net Zero.

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