Floating Offshore Wind Manufacturing Investment Scheme FLOWMIS
Floating Offshore Wind Manufacturing Investment Scheme (FLOWMIS), is a scheme which looks to provide up to £160 million to kick start investment in to port infrastructure projects, needed to deliver floating offshore wind ambitions. The scheme, hopes to capture benefits to the UK economy including:
- Enabling the delivery of our 5GW 2030 deployment ambition by securing additional suitable port capacity necessary to scale up and accelerate floating offshore wind deployment in the UK
- Increasing capability in the UK floating offshore wind supply chain, driving cost reduction and the commercialisation of floating offshore wind technology
- Delivering industrial growth and associated regional economic and social benefits (for example, quality jobs and increased GVA)
- Contributing to our target to achieve net zero by 2050
The wind power targets were first discussed in 2022 as part of the British Energy Security Strategy, which announced the UK ambition to deliver up to 50GW of offshore wind by 2030, including up to 5GW of floating offshore wind. Details of the group scheme were described in the Powering up Britain report of March 2023, from the Department for Energy Security and Net Zero (DESNZ) and supporting documents published concurrently including "Floating Offshore Wind Manufacturing Investment Scheme Guidance" give further details.
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