DECC is encouraging innovators to enter two competitions worth £10 million in a bid to cut the costs of offshore wind power.
The new investment follows two successful rounds of the Government’s offshore wind innovation scheme and is calling on new ideas from companies in oil and gas, aerospace and manufacturing.
Up to £7 million, which is run with the Technology Strategy Board (TSB), is expected to fund between five to 10 projects depending on the volume and quality of the applications. A share of £3 million is available for firms for the development of technical feasibility studies in offshore wind innovation.
Iain Gray, Chief Executive of the TSB said: “Through this funding we want to encourage the development of technologies that will reduce the cost of energy from offshore wind farm, while ensuring that companies in the UK supply chain increase their share of the market.”