UK Government Launches Clean Industry Bonus to Boost Investment from Offshore Wind
The Clean Industry Bonus (CIB) scheme was launched by the Department for Energy Security and Net Zero on the 13th of February. The scheme sets out to financially incentivise offshore wind developers on the condition that they prioritise investment in areas that need it most, supporting the creation of good jobs and clean energy manufacturing. […] The post UK Government Launches Clean Industry Bonus to Boost Investment from Offshore Wind appeared first on Marine Energy Wales.
The Clean Industry Bonus (CIB) scheme was launched by the Department for Energy Security and Net Zero on the 13th of February. The scheme sets out to financially incentivise offshore wind developers on the condition that they prioritise investment in areas that need it most, supporting the creation of good jobs and clean energy manufacturing.
The application window for the Clean Industry Bonus is open and will remain open until the 14th of April 2025.
Image: Marine Power Systems
Clean Industry Bonus
The Clean Industry Bonus will support offshore wind developers that focus their investments in regions that need it most, such as coastal and traditional oil and gas communities. It also supports developers who reduce emissions across the supply chain by building more sustainable, low-carbon manufacturing facilities.
The Clean Industry Bonus scheme is open to all offshore wind projects bidding for funding through the Contracts for Difference Allocation Round 7. Initially, the bonus will provide up to an additional £27 million per gigawatt for offshore wind projects, with the UK Government indicating that up to £200 million of funding could become available if developers commit to 7-8 GW of offshore wind.
What does this mean for Wales and Welsh businesses?
By encouraging developers to do business in the UK, the Clean Industry Bonus scheme has the potential to create significant opportunities and positive impact for Welsh businesses by driving investment in renewable energy and infrastructure, creating jobs, and attracting investment here in Wales.
Charlie Allen, FLOW Project Manager at MEW said:
“It is encouraging to see the UK Government taking decisive action through the Clean Industry Bonus scheme, incentivising offshore wind developers that prioritise investment in local businesses and infrastructure. We look forward to seeing how the scheme evolves in driving strategic investments that deliver long-term economic benefits for Wales and the wider UK.”
To find out more
For more information on the Clean Industry Bonus, head to the government website.
The post UK Government Launches Clean Industry Bonus to Boost Investment from Offshore Wind appeared first on Marine Energy Wales.
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