Global Underwater Hub (GUH) and Scottish Enterprise (SE) have today signed a Memorandum of Understanding which will see them work in partnership to establish a subsea supply chain ecosystem as a global centre of excellence for floating offshore wind.
The strategic partnership was signed on the opening day of Subsea Expo – GUH’s flagship three-day conference and exhibition (18 – 20 Feb) which attracts 6,000 visitors and showcases the latest in subsea innovation and technology.
The aim of the MoU is to maximise economic value for Scotland, and the wider UK, from the projected rapid global growth in floating offshore wind. It will also support the transition of the UK’s oil and gas underwater sector supply chain into floating offshore wind.
The subsea supply chain ecosystem will provide a collaborative environment in which to drive capability and capacity in Scottish subsea companies so they can capitalise on the opportunities in floating offshore wind – a market estimated to be worth £1trillion globally and £270billion domestically.
Working together, GUH and SE will help protect and grow the UK underwater industry’s world-leading position by harnessing the innovation and economic opportunities that are emerging from floating offshore wind.
They will identify and bring together the companies, organisations, facilities, resources and expertise that can support the growth of the floating offshore wind industry in the UK and internationally.
Gaps in the UK’s underwater supply chain capability, infrastructure, resources and expertise, relative to the needs of the floating offshore wind market, will be identified with targeted support provided to fill those gaps. Focus areas include subsea cable systems, moorings and anchoring as well as underwater operations and maintenance.
Neil Gordon, chief executive, GUH and Suzanne Sosna, director for energy transition, Scottish Enterprise
Part of the partnership’s remit will be funding and project development, working collaboratively to co-design and develop initiatives which will make effective use of public sector funding to support projects in the supply chain. The funding will anchor local companies and reinforce their competitive advantage in subsea technology and operations.
They will also develop and execute joint strategies for business growth services, investment campaigns and foreign direct investment, including financial support and products to attract industry stakeholders, maximising efficient use of resources and reducing duplication.
Other priorities will include analysis and support for subsea supply chain needs with a focus on competitive advantage, market access and technology commercialisation. The partnership will also lead to the development of agreed industry standards, guidelines and best practice for subsea systems and infrastructure, increasing insurance community confidence and project stability.
Neil Gordon, chief executive of the GUH, said: “The growth of floating offshore wind brings massive opportunities for our underwater supply chain. ScotWind alone represents £28billion in development, manufacturing, and installation opportunities to bring 30GW of generating capacity online over the next decade and a further £33billion from operations and maintenance over the full life of a windfarm.
“With extensive experience, skills and technology, honed over five decades in offshore energy, our supply chain is perfectly positioned to meet the challenges and complexity of floating offshore wind.
“The compelling combination of GUH’s industry specific insight, knowledge and membership with Scottish Enterprise’s provision of resources and support for supply chain development, market access and skills training will ensure that the right support is targeted at the right companies, and the right time, to make a tangible impact on our ability to capitalise on the massive opportunities in floating offshore wind globally.”
Scottish Enterprise’s director for energy transition, Suzanne Sosna said: “Our vision is for Scotland to be viewed around the world as a centre of excellence for offshore wind, with supply chains that are world-leading in terms of value, competitiveness, and service.
“Collaborative working is essential to the future success of the sector. This MoU ensures we will operate hand-in-hand with Global Underwater Hub to really maximise opportunities for supply chain companies, but also to get us to that place where the rest of the world looks to Scotland for the supply chain that will power the energy sector of the future.
“That thriving sector will provide major employment through fair work which will directly contribute to Scotland's wellbeing economy and 2045 net zero ambition."