1、Offshore Wind Net Zero Investment RoadmapMarch 2023Leading the way to net zero2Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroOffshore wind is an established and proven part of the UK energy mix and is set to become even more important in the future.It will play a key role in d

2、ecarbonising our power system by 2035 and helping the UK achieve net zero by 2050.With the highest deployment in Europe,we have proved that offshore wind can be delivered at ever increasing scale whilst decreasing the costs to consumers.The UK has a world-leading ambition to deploy up to 50GW by 203

3、0,with up to 5GW coming from floating offshore wind.Investors from all over the world are already benefitting from the certainty that the UK offshore wind market offers.Our long-term ambitions mean significant,new investment opportunities for private capital in windfarms,transmission infrastructure,

4、port infrastructure,new manufacturing,and services.Access to cheap,abundant and reliable energy provides the foundation for a thriving economy with our homes and businesses relying on it to deliver our future prosperity.Already home to the 1st,2nd,3rd and 4th largest operational offshore wind farm p

5、rojects in the world,we are cementing our position as amongst the most attractive places in the world for investing in offshore wind.The UK is leading the charge towards a net zero,nature-positive futureRt Hon Grant Shapps MP Secretary of State for Department for Energy Security and Net ZeroOpen,lib

6、eral economyStable regulatory regime with independent legal systemGlobally competitive and transparent tax regimeGenerous R&D and patent tax reliefThe UK-EU Trade and Cooperation Agreement allows zero tariff market access with the EUFlexible labour marketWorld class professional services sector supp

7、orting businesses with insurance and financeReferences:1Dealroom,2EY Attractiveness Survey June 2022Attractiveness,3Z/Yen Global Green Finance Index 2022(GGFI 10),4DHL Global Connectedness Index 2021,5Official statistics converted at market exchange rates as a source;6Workforce trends(2022);7UK Inno

8、vation Strategy(2021)The UK has one of the worlds most attractive business and investment environments3Offshore Wind Net Zero Investment Roadmap:Leading the way to net zero22bncommitted to raise R&D to 2.4%of GDP71stfor installedoffshore windcapacity in Europe,2ndgloballyEngineering employs5.6mnpeop

9、le6c.50%of all European offshore windinstalled capacity(2010-2020)1stin G20as a globally connectedeconomy45thLargesteconomy51stRanked best global green finance centre32ndin Europe for FDI attractiveness21bnFunding for Net Zero Innovation Portfolio1stin Europe forvalue of startup&scaleupecosystem14Of

10、fshore Wind Net Zero Investment Roadmap:Leading the way to net zeroWhy invest in UK offshore wind?A sector with ambitious targets and major opportunities for growthUp to 160mnUp to50GWUK deployment by 2030Up to5GWof new floatingwind projectsby 2030ClimateChange Committeeestimates1up to125GWcould be

11、needed by2050Floating Offshore Wind Manufacturing Investment Scheme 1Climate Change Committee(2020),The Sixth Carbon Budget:The UKs path to Net ZeroLong term vision with an ambition of up to 50GW offshore wind capacity by 2030,including up to 5GW of floating offshore wind,and a commitment to shorten

12、 development timescales for future projects.UK geography well suited to offshore wind deployment.Successful track record of Government and industry working in partnership to build the sector through the Offshore Wind Industry Council,a joint government-industry forum.Established and experienced regu

13、latory regime covering the whole offshore wind project life cycle,from leasing,to consenting,to operation and decommissioning with actions underway to accelerate the pipeline and meet our ambitions.Clear,bankable support regime offering reliable and legally secure income for new developments through

14、 15-year Contracts for Difference with a government-owned counterparty awarded through competitive annual auctions.Commercial PPAs:offshore wind projects are beginning to proceed on the merchant market.Stable,regulated returns for investments in offshore transmission.Enabling infrastructure such as

15、grid,supply chain and ports investment,with supportive government schemes.Leading UK-based companies,including two of the worlds leading turbine original equipment manufacturers,plus hundreds of other companies,to anchor a growing supply chain.UK offshore wind capacity has grown significantly over t

16、he last decade50123456789101112131420122013201420152016201720182019202020212022UK operational offshore wind capacity(GW)The UKs installed capacity has increased rapidly over the last decade.There is 13.8GW of offshore wind capacity already in the UK,enough to power over 10 million homes.Current depl

17、oyment is over 4 times higher than the capacity installed in 2012.The cost per unit of offshore wind has fallen by almost 70%from 119.89 to 37.35/MWh since the first Contracts for Difference allocation round in 2015.1The UK currently has 78MW floating offshore wind operational the Hywind Scotland(30

18、MW)and Kincardine(48MW)projects.1.Quoted in 2012 prices.Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroSource:Energy Trends:Renewable electricity capacity and generation(ET 6.1-quarterly),up to date as of Q3 2022.Offshore Wind Net Zero Investment Roadmap:Leading the way to net

19、zeroThe known pipeline of offshore wind farm projects shows significant potential for growth and investmentFixed-bottom and floating offshore wind pipelineThere is around 78GW of offshore wind capacity in the UK pipeline.Around 60%of this pipeline is fixed bottom and 40%is floating.We have 6.4GW in

20、construction,due to come online by the mid-2020s,and a further 7.6GW is now finalising procurement and preparing for construction.Crown Estate Scotland awardedrights for 27.6GW of new capacitythrough the ScotWind leasing round.The Innovation and Targeted Oil and Gas Round(INTOG)could add a further 5

21、.4GW of floating wind capacity.A further 4GW are expected to come through the Celtic Sea floating wind leasing round.Source:Department for Energy Security&Net Zero Analysis Footnotes:Operational&under construction up to date as of Q3 2022,committed-pre-planning application up to date as of Q1 2023,f

22、uture up to date as of Q3 2023.Future capacity is based on potential seabed to be leased via The Crown Estate Celtic Sea and INTOG leasing rounds.60102030405060708090100OperationalUnderConstructionCommittedConsentedPlanningSubmittedPre-PlanningApplicationFutureTotalCurrent Offshore Wind Pipeline(GW)

23、FixedFloating13.86.47.65.18.241.49.491.9World leading policy and regulationsIncreased our ambition for offshore wind deployment to up to 50GW by 2030,including up to 5GW of floating offshore wind.World leading market policy and market framework,running four Contracts for Difference(CfD)auctions in 7

24、 years to support low-carbon electricity generation.Annual CfD auctions from 2023 onwards starting with Allocation Round 5 opening in March 2023.Considering the use of Non-Price Factors as a reform to the CfD scheme.Radar mitigation Working with the Offshore Wind Industry Council and Ministry of Def

25、ence to put in place suitable mitigation that addresses challenges with radar interference from offshore wind turbines.Leasing rounds delivered by The Crown Estate and Crown Estate Scotland giving opportunities to new entrants,with further seabed leasing rounds planned including for floating wind in

26、 the Celtic Sea.7Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroPhoto by Shaun Dakin on UnsplashSupportive policy and regulatory environmentDelivering a strategic networkLaunched the Offshore Transmission Network Review in 2020 to review the way that the offshore transmission n

27、etwork is designed and delivered,consistent with the ambition to deliver net zero emissions by 2050.Published a recommended design for the connection of offshore in scope wind farms to 2030(Holistic Network Design),outlining a single,integrated network connecting 23GW of offshore wind projects,the f

28、irst step towards more centralised,strategic network planning.Preparing a Holistic Network Design Follow Up Exercise,outlining a single,integrated network connecting a further 21GW of offshore wind projects.Ofgem published its decision on accelerating onshore transmission investment.This decision st

29、reamlines regulatory and funding approvals and will initially apply to 20billion of investment.Working in collaboration with industryAppointed Electricity Networks Commissioner to advise by June 2023 on how the development process for transmission infrastructure can be reduced,initially by three yea

30、rs but ultimately by a half.Offshore Wind Sector Deal industry and government collaboration to drive low-cost,low-carbon energy,and the productivity and competitiveness of the UK supply chain.Developed and delivered in partnership with the Offshore Wind Sector Council.Established the Offshore Wind A

31、cceleration Taskforce and appointed the UKs Offshore Wind Champion to spearhead the work to accelerate new offshore wind projects.8Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroPhoto by Shaun Dakin on UnsplashRegulatory reform for our networkStreamlining the planning processTa

32、king forward measures to streamline the planning process and accelerate deployment of offshore wind as previously announced in the British Energy Security Strategy.These include the creation of a Fast Track consenting process for Nationally Significant Infrastructure Projects.Published a cross-gover

33、nment Nationally Significant Infrastructure Project(NSIP)Action Plan,which sets out how the government will reform the NSIP consenting process to ensure the planning system can deliver for the future,which offshore wind projects will benefit from.Updating the Energy National Policy Statements(NPS):w

34、ork is ongoing to amend the NPSs to ensure they reflect the importance of energy security and net zero,the role of offshore wind in delivering them and strengthen the priority of renewable energy infrastructure.Revised NPSs will be reconsulted upon and published in due course.Putting legislation in

35、place to streamline the offshore wind consenting process:through the Energy Bill,we will introduce the Offshore Wind Environmental Improvement Package,including regulations to adapt environmental assessments for offshore wind,enable strategic compensation and introduce Marine Recovery Funds.Non legi

36、slative changes involving the development of Offshore Wind Environmental Standards and strategic monitoring.Implementing a new Fast Track consenting process via powers in the Levelling Up and Regeneration Bill,as reforms set out in the NSIP Reform Action Plan,which offshore wind projects which meet

37、the necessary quality criteria will be able to benefit from.9Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroPhoto by Shaun Dakin on UnsplashA planning system that supports deployment10Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroPhoto by Shaun Dakin on U

38、nsplashGovernment support for offshore wind investmentSupported infrastructureEight freeports in England,two green freeports in Scotland and two freeports in Wales,including measures such as:tax relief,business rates retention,customs,regeneration,innovation and trade and investment support.Financia

39、l supportCapital allowance support:As announced in the 2023 Spring Budget,Government is introducing a series of economy-wide capital allowance measures from which offshore wind projects can benefit.Investment zones extended across the UK.The Investment Zone programme,designed to empower local places

40、 and grow the economy,will further benefit from a new package of tax reliefs as announced in Spring Budget.These tax reliefs will bring forward new investment by reducing the cost of doing business.Innovation supportInnovative floating offshore wind demonstration programme with 31 million government

41、 funding and 30 million of industry match funding.Supporting the Floating Offshore Wind Centre of Excellence providing 2 million additional funding over 4 years.Offshore Renewable Energy Catapult(OREC).OREC delivers products and services with industry in research,innovation,testing innovation and su

42、pply chain growth.Joule programme 5 million to OREC and the National Composites Centre to incorporate advanced composites into next generation wind turbine components.Windfarm Mitigation for UK Air Defence radar competition 14.15 million in Phase 3,building on 5.9 million in Phases 1&2.11Offshore Wi

43、nd Net Zero Investment Roadmap:Leading the way to net zeroPhoto by Shaun Dakin on UnsplashGovernment support for offshore wind investmentSkills&capability Our policies and proposals for growing the offshore wind sector in line with our 50GW ambition could support up to 90,000 direct and indirect job

44、s.We are supporting Institutes of Technology across England with 120 million for institutes specialising in delivering high technical education and developing green skills.We are reforming the skills system through Local Skills Improvement Plans.We have instituted a Lifetime Skills Guarantee support

45、ing workers gain the skills they need to transition to the green economy,including through targeted support for retraining.In England,DfE is investing an additional 3.8 billion in skills by 2024-25.This includes funding for programmes to support green skills,including apprenticeships,T levels and Sk

46、ills Bootcamps.Free Courses for Jobs supports eligible adults to gain high value Level 3(A level-equivalent)qualifications,many of which can help them to transition to or specialise in roles in the green economy.The Green Jobs Delivery Group has been established as the central forum through which go

47、vernment and industry are working together to accelerate the supply of a skilled workforce for our low carbon sectors and hydrogen is included as part of the groups workplan.The North Sea Transition Deal has developed an integrated People and Skills Plan to ensure the highly skilled oil and gas work

48、force with skills transferability to adjacent energy sectors can be deployed to develop our offshore wind industry.Provisions such as Skills Bootcamps,Free Courses for Jobs,Higher Technical Qualifications and apprenticeships will upskill more workers to lower carbon emissions.For example,the Mainten

49、ance and Operations Engineering Technician,which offers a Wind Turbine Technician occupational specialism.12Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroPhoto by Shaun Dakin on UnsplashGovernment support for offshore wind investmentStrengthened the supply chainOffshore Wind M

50、anufacturing Investment Scheme made funding available to support investment in major port and manufacturing infrastructure.Through the scheme,we have been able to announce major investments that help deliver economic growth,supply chain development and energy security.Supply Chain Plan policy requir

51、es projects over 300MW and all floating offshore wind projects to commit to a series of actions to strengthen the renewable energy supply chain in the UK and Europe before they can compete in a CfD auction.Supportingmore infrastructureUp to 160 million Floating Offshore Wind Manufacturing Investment

52、 Scheme to support investment in the infrastructure needed for commercial scale deployment of floating offshore wind.The UK Infrastructure Bank can invest across the capital structure(senior debt,mezzanine,first loss,debt guarantees and equity)to help crowd private finance into net zero infrastructu

53、re.The Bank has identified ports and floating offshore wind as investment opportunities and is interested to hear from enabling infrastructure projects in particular.UK Export Finance provides enhanced support for supply chain investment through the Export Development Guarantee and offers a range of

54、 finance products to grow exports once established in the UK.13Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroPhoto by Shaun Dakin on UnsplashGovernment support for offshore wind investmentExpanding our export support International Trade Advisors:once established in the UK ther

55、e is the potential for one-to-one support on developing your export strategy.Export Support Service:once established in the UK,you can ask any question for your business on exports to encourage growth,for example on exporting to new markets,paperwork you need to sell your goods abroad and rules for

56、a specific country where you want to sell services.Collaborated with industry Established a Supply Chain and Infrastructure Working Group as part of the Offshore Wind Acceleration Taskforce to identify and develop actions to address barriers to investment and build resilience in the supply chain.Est

57、ablished the Floating Wind Taskforce to tackle barriers to deployment and enable collaboration in floating offshore wind,creating the right environment for investment and building the UKs expertise in this sector.Offshore wind farm project investment14Over50bn*in construction capital expenditure nee

58、ded to build offshore windfarms in the UK by 20301Examples of projects:Hornsea 2rsted has signed an agreement to divest a 50%ownership stake in its 1.3GW Hornsea 2 Offshore Wind Farm in the UK to a consortium comprising AXA IM Alts,acting on behalf of clients,and Crdit Agricole Assurances.Details he

59、reDogger Bank A,B and CDogger Bank A and B is a joint venture between SSE Renewables(40%),Equinor(40%)and Vrgrnn(20%).On 2 November 2021 SSE and Equinor announced the sell down of a combined 20%share in Dogger Bank C to Vrgrnn(10%each)for a total consideration of 140 million.Details hereMoray EastMo

60、ray East is an offshore wind project located in the outer Moray Firth,off the north-east coast of Scotland,and is a joint venture owned by Diamond Green Limited and CTG and Ocean Winds.Details hereInvestment opportunities:Project conception to acquiring a seabed lease for developmentSite development

61、 to consent and permittingConstructionOperation(resale and refinancing)DecommissioningThroughout the life cycle opportunities will exist for debt and equity finance to enter Opportunity for secondary investment in developed projects1.See appendix A for further details.Does not include offshore trans

62、mission capital expenditure,operational expenditure,decommissioning,development costs or any associated investment in supply chains and infrastructure.Quoted in 2021 prices.;*50 billion includes inward and outward investmentOffshore Wind Net Zero Investment Roadmap:Leading the way to net zeroManufac

63、turing supply chain investment15Offshore Wind Investment Opportunities Inter-array and export power cableTowersMonopile foundationsTransition piecesTransformersBladesNacellesSpecialist offshore logistics and installation vessels Tier two plus supply chain manufacturingFloating Offshore Wind Investme

64、nt Opportunities Floating substructure assembly and manufacturingMooring and anchoring systemsDynamic inter-array power cablesSpecialist floating operations and maintenance vesselsSee more on high-potential opportunities for manufacturing investmentExamples of projects:SeAH WindSouth Koreas SeAH Win

65、d have announced their investment of over 400 million into a XXL monopile foundation manufacturing facility in Teesside.This will be one of the worlds largest monopile manufacturing facilities with the potential to supply circa 150 monopiles annually and create up to 800 jobs by 2030.Details hereJDR

66、 Cable SystemsJDR Cable Systems are investing 130 million in a world-class high voltage submarine cable manufacturing facility,which will be fully operational by 2024.The project will create 170 jobs in Blyth,as well as safeguarding a further 270 jobs at JDRs existing facility in Hartlepool.Details

67、hereSiemens Gamesa Renewable EnergySiemens Gamesa Renewable Energy have invested 186 million to expand their blade manufacturing facility in Hull to enable the manufacturing of the next generation of wind turbine blades.The project will create and safeguard around 1080 jobs.Details hereOffshore Wind

68、 Net Zero Investment Roadmap:Leading the way to net zeroEnabling infrastructure investment16Investment opportunities:Portside infrastructure to support the manufacturing,installation,operation and maintenance of fixed foundation offshore wind turbines.Large-scale,deepwater ports for the fabrication,

69、assembly,storage and deployment of floating offshore wind turbines.Operations and maintenance bases and related infrastructure.High voltage power cable manufacturing for interconnection.Future Offshore Transmission Owner(OFTO)Tender Rounds to bid for newly built and commissioned OFTO assets,which co

70、nnect an offshore wind farm to the UK onshore transmission system.See more on high-potential opportunities for infrastructure investmentExamples of projects:TeesworksTeesworks is constructing a large-scale site for manufacturing infrastructure.The site is more than 200ha in size with phase 1 deliver

71、ing a quay that is over 450m in length.The site has already secured manufacturing investment from SeAH Wind which will build its new monopile factory at the site.Details here Operations&Maintenance Base on Port of TyneThe 3.6GW Dogger Bank Wind Farm is a joint venture between SSE Renewables,Equinor

72、and Vrgrnn.Equinor and the Port of Tyne have invested in a new quay and Operations&Maintenance Base for the project,on the site of a disused oil&gas fabrication yard.This will directly create up to 400 skilled jobs,with over 2,000 jobs created or supported throughout the project.North Star Renewable

73、s will provide four Service Operation Vessels that will operate out of the port.Details hereOffshore Wind Net Zero Investment Roadmap:Leading the way to net zeroStrengthening supply chain capability across both fixed bottom and floating offshore wind,attracting new investment and facilitating export

74、 opportunities.Investment Journey in the UK and UK Government Support1.Early engagementSector teams in Department for Business and Trade(DBT)and Department for Energy Security and Net Zero(DESNZ)liaise with potential investors to highlight unique opportunities in the UK.International engagement from

75、 DBT and FCDO network ensures global businesses can invest successfully in the UK.Their global reach covers more than 100 markets throughout the world.5.Going global:International Trade Advisers(ITAs)Expert,first hand support to develop a first-class export strategy to successfully enter overseas ma

76、rkets or expand and diversify into new markets.Bespoke advice on suitability for specific international markets,route to market,business vision and goals.3.Benefit from pioneering centres of excellence and supportive industry clustersAccess to an ecosystem of industry clusters that encourage collabo

77、ration and connectivity to the UK and rest of the world.Access to leading research centres,such as the Offshore Renewable Energy Catapult(OREC).Investors can benefit from OREC,who deliver products and services with industry in research,innovation,testing innovation and supply chain growth.4.Explore

78、export opportunities:UK Export Finance(UKEF)UK Export Finance,the UKs export credit agency,has enhanced its support to attract investment into fixed-bottom and floating offshore wind supply chains and export capability.Through its overseas network and working alongside DBT and FCDO,UKEF is building

79、a pipeline of export opportunities for UK supply chains.2.Landing in the UK Sector teams from DBT in the UK and globally and DESNZ provide reliable industry insights in a rapidly evolving market.We support investors to take Final Investment Decision(FID)in the UK,facilitating introductions and advic

80、e on potential locations for investment.Investment Services Team(IST)in DBT directly delivers and connects investors to a wide range of support services from tax advice to bespoke market research.Questions about your investment journey or how the UK government will support you?UK businesses can cont

81、act us here.International businesses can contact us here.Offshore Wind Net Zero Investment Roadmap:Leading the way to net zero1718Offshore Wind Net Zero Investment Roadmap:Leading the way to Net ZeroLifecycle of an offshore wind farm and investment opportunities1Early stageDevelopmentConstruction an

82、d InstallationPackages of workExamples of suppliersCostOperations and MaintenanceDecommissionAround 50 million for 1GW farmAround 50 million for 1GW farmAround 2.5-3 billion for 1GW farmAround 75 million per annum for 1GW farmAround 300 million for 1GW farmEnergy sector assessmentEnvironmental asses

83、smentMarine spaceSurveysConsentingFinanceLegalInsuranceEngineeringCovers activities up to point offinancial close,including:Securing planningConsentsEnvironmental impact assessmentsInfrastructure assessmentAnd activities required to define:DesignEngineeringProcurementTurbine and foundation type and

84、fabricationArray power cable and export cable fabricationOffshore substation fabricationTransport and installation of componentsAssembly port and commissioning.Supporting the ongoing operation of the wind turbines,balance of plant and associated transmission assetsEnsuring safe operations,maintainin

85、g physical integrity of wind farm and optimising electricity generationRemoval or making safe of offshore infrastructure at the end of its useful life,plus disposal of equipmentProperly financed decommissioning plans typically are required as part of gaining planning approval to construct the windfa

86、rmConsultancies:e.g.ABPmer,Arup,Xodus,Wood,Everoze,OWCLaw firms:e.g.Clifford Chance,Linklaters,Evershed SutherlandBanks and credit agencies:e.g.UK Export Finance,Standard Chartered,M&G,HSBCInsurance companies:e.g.Aon,Beazley,GcubeEnvironmental assessment:e.g.Atkins,ERM,EverozeProject and procurement

87、 management,specialist engineering companies:e.g.Atkins,Arup,Everoze,OWC,Xodus,ITP Energised,Osbit,Turner and TownsendSurvey companies:e.g.VenterraGroup,OWC,ActeonNaval architecture and marine management:e.g.SMC,Chartwell,ABPmerBlade manufacturers:e.g.Siemens Gamesa and VestasCables:e.g.JDR Cable Sy

88、stemsMonopiles:e.g.SeAH WindTransition pieces:e.g.SmuldersInstallation:e.g.Subsea7 and Seajacks Fabrication and assembly port:e.g.Hull Greenport,Port of NiggAsset management companies:e.g.Atkins,Onyx,Synaptic,EDS,XcecoWind farm inspection maintenance and repair companies:e.g.James Fisher,Global Ener

89、gy Group,Correll GroupMarine companies:e.g.North Star,Bibby,HST,Sea CatCombination of asset managers,marine,specialist engineering and installation companies18Offshore Wind Net Zero Investment Roadmap:Leading the way to net zero1.Costs sourced from ORE Catapult:Guide to an offshore wind farm(2019):h

90、ttps:/ on a typical 1GW project using 10MW turbines with first operation date of 2022,quoted in 2018 prices.192025203020212035The Crown Estate to hold the Celtic Sea leasing round for floating offshore wind projectsCfD Allocation Round 4 7GW of new fixed bottom projects&32MW new floating windScotWin

91、dleasing round 27.6GW of new projectsGovernment releases the Net Zero StrategyPublication of Future Framework to signal policy direction for a more strategic approach to delivering offshore wind andassociated transmissionBritish Energy Security Strategy announced by Government with greater offshore

92、wind ambitionAchieve a fully decarbonised electricity system,subject to security of supplyReach an ambition of up to 50GW offshore wind,including up to 5GW of floating offshore wind202220242023CfD Allocation Round 5 opens(start of annual auctions)CfD Allocation Round 6 opens(further rounds annually)

93、Publication of Holistic Network DesignStrengthen the Energy National Policy Statements to reflect importance of energy security and net zeroFast-track Offshore Transmission Network Review planning pilots launchApplications opened for Crown Estate Scotland INTOG leasing round for oil&gas decarbonisat

94、ion projectsFLOWMIS Request for Information goes liveDelivery of British Energy Security Strategy measuresAnnual Contract for Difference(CfD)auctionsCfD Allocation Rounds pre-2021:AR1 in 2015AR2 in 2017AR3 in 2019Floating Offshore Wind Manufacturing Investment Scheme(FLOWMIS)(up to 160 million)Float

95、ing Offshore Wind Demonstration Programme(31 million)Offshore Wind Manufacturing Investment Scheme(OWMIS)Our 2035 delivery plan Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroINTOG projectsoffered exclusivity agreementsFLOWMIS launched Fast Track Consenting process for offshore

96、 windFurther ways we help you invest and develop in the UK20Visit great.gov.ukHelpful guidesGuidance on expanding to the UK,including visas and migration;tax and incentives;regulatory and business planning;staff recruitment,retention and training;and immigration.Office for Investment(OFI)OfI is a jo

97、int DBT and No.10 team that provides a single front door to Government for high-value and high-impact investors,facilitating with access and insights through a concierge offer.The OfI works across departments to drive increased investment in line with the Governments net zero agenda.Find a UK specia

98、listThe UK Investment Support Directory allows you to find companies with skills and experience in helping overseas businesses set up or expand in the UK.Links to key organisationsIn addition to centres of excellence and industry clusters,we will facilitate introductions to universities,Local Enterp

99、rise Partnerships(LEPS)and Enterprise Zones.Economic development agenciesThere are a number of organisations with significant experience in delivering public sector investment packages.For example,Scottish National Investment Bank is a mission-led development bank that provides patient capital to bu

100、ild a stronger,fairer,more sustainable Scotland.Support moving a tech businessThe Global Entrepreneur Programme(GEP)helps high-growth overseas companies relocate to the UK.The UKs commitment to support global investment is unparalleledThe Department for Business and Trade(DBT)DBT supports businesses

101、 to invest,grow and export,creating jobs and opportunities across the country.UK Export Finance(UKEF)The UKs export credit agency,has enhanced its support to attract investment into supply chains and building export capability.UK infrastructure Bank(UKIB)The UKIB can invest across the capital struct

102、ure(senior debt,mezzanine,first loss,debt guarantees and equity)to help crowd private finance into net zero infrastructure.The Bank has identified CCUS as an investment opportunity,and projects are encouraged to contact UKIB about their financing needsOffshore Wind Net Zero Investment Roadmap:Leadin

103、g the way to net zero21Offshore Wind Net Zero Investment Roadmap:Leading the way to net zeroAppendix A Notes and definitions(for slide 14)Investment needs are defined as the total sum of capital contributions required to deliver the necessary projects to achieve the deployment pathways shown in the

104、Net Zero Growth Plan.The 50 billion quoted is from the low electrification scenario from The Department for Energy Security&Net Zeros Dynamic Dispatch Model(DDM).The estimate of offshore wind capital expenditure is based on data from the Electricity Generation Costs Report and applied to the low ele

105、ctrification deployment trajectories.Figures are undiscounted,non-annualised and are in 2021 real terms rounded to the nearest 10 billion.Figures include imports where inputs are purchased from overseas.Only capital expenditure associated with the construction of offshore wind turbines have been inc

106、luded.This means that capital expenditure associated with the offshore transmission infrastructure has not been included in this estimate.Inclusion of capital expenditure on transmission infrastructure would increase the number provided in slide 14.Data from the ORE Catapult guide to an offshore win

107、d farm indicates that this could lead to an increase of up to 30%,however,to ensure consistency of source data and underlying assumptions this approximation has been omitted from slide 14.The costs associated with operational expenditure,decommissioning,development costs or any associated investment

108、 in supply chains and infrastructure which is required to deliver the assumed deployment pathway are also excluded.This provides an estimate of how much capital spend could be required to construct offshore windfarms in the UK by 2030.It is framed as at least as it is based on the low electrificatio

109、n scenarios and excludes transmission capital expenditure which could increase this estimate.great.gov.ukPublishedDisclaimerThe Department for Energy Security and Net Zero is the department for delivering security of energy supply,ensuring properly functioning markets,greater energy efficiency and s

110、eizing the opportunities of net zero to lead the world in new green industries.The Department for Business and Trade isthe department for economic growth.We support businesses to invest,grow and export,creating jobs and opportunities across the country.Legal disclaimerWhereas every effort has been m

111、ade to ensure that the information in this document is accurate,the Department for Business and Trade and Department for Energy Security and Net Zero do not accept liability for any errors,omissions or misleading statements,and no warranty is given,or responsibility accepted as to the standing of an

112、y individual,firm,company or other organisation mentioned.Crown copyright 2023You may re-use this publication(not including logos)free of charge in any format or medium,under the terms of the Open Government Licence.To view this licence,visit nationalarchives.gov.uk/doc/open-government-licence/version/3Where we have identified any third-party copyright information in the material that you wish to use,you will need to obtain permission from the copyright holder(s)concerned.Published byDepartment for Energy Security and Net Zero and Department for Business and Trade 31 March 2023March 2023