UK launches £2.8m business initiative to boost renewables

The UK’s National Renewable Energy Centre (Narec) has set up a £2.8m ($4.2m) public-private initiative to help small to medium businesses break into the offshore wind and marine renewable energy supply chain.

The Renewable Energy Technology Accelerator (RETA) project will target companies in the northeas t of England, where there is already a growing offshore wind business servicing wind farms in the North Sea.

RETA will launch with three new collaborations, involving companies developing technologies to reduce the cost of offshore renewable energy installations.

Tony Ikwue, innovation and corporate development director at Narec, said: “Narec has created this programme to build on the strengths of local engineering companies.  Initial interest from industry has been extremely high and the projects selected will see new products being developed in the North East."

He added that there would also be “knock on benefits by way of supply contracts and knowledge transfer opportunities for SMEs looking to enter these promising but still relatively immature industries”.

Over its lifetime, the project is expected to provide more than 70 regional small-to-medium enterprises with technical and market advisory services to assist them with developing products and services aimed at the offshore renewables industry. 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...