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Home›Business & Finance›The Crown Estate Awards GBP 5 Million in First Supply Chain Accelerator Round
Business & Finance

December 10, 2024 · about 1 year ago

The Crown Estate Awards GBP 5 Million in First Supply Chain Accelerator Round

The Crown Estate has awarded nearly GBP 5 million in funding to 13 organisations across England, Wales, and Scotland in the first round of its Supply Chain Accelerator. According to The Crown Estate, the funding will help kick-start projects drawing down from a GBP 50 million fund established in May

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One of the organizations that secured funding is Tugdock, in partnership with Sarens, who plan to develop a heavy-lift operations and maintenance (O&M) hub at ABP’s port of Port Talbot in Wales.

In a separate press release, the partners said that Port Talbot’s strategic location near the Celtic Sea makes it an optimal hub for supporting floating offshore wind projects, reducing transit times and operational costs for maintenance, assembly, and logistics.

“The Sarens and Tugdock O&M hub will provide a wide range of services including heavy lifting equipment such as cranes and TSPs, assembly areas, storage, training, and consultancy. This all-encompassing service model reduces the need for clients to engage multiple contractors, simplifying project management and reducing overall costs,” said Carl Sarens , Director of Global Operations, Technical Solutions, and Engineering at Sarens.

“The Tugdock and Sarens O&M hub will help create significant employment opportunities at Port Talbot, both directly and indirectly, contributing to regional economic development.”

The Crown Estate has earmarked a further GBP 45 million in funding for future rounds that could potentially be deployed to support further projects around the UK that meet the opportunities identified by the Industrial Growth Plan (IGP) for the offshore wind sector.

The UK’s offshore wind pipeline grew by 10 GW in 2023 to 93 GW, with the sector producing 49 TWh of electricity last year, according to the Crown Estate’s most recent UK offshore wind report.

In the UK’s most recent Contract for Difference (CfD) Allocation Round 6 (AR6), nine contracts were awarded for fixed-bottom wind projects, totalling 4.9 GW. Additionally, a single contract was granted for a floating wind project to the Green Volt Offshore Windfarm, a consortium comprising Flotation Energy and Vårgrønn.

Related Article

9.58 GW of Renewable Energy Contracts Signed in UK’s Latest CfD Auction

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