Floating wind farms: How a new tie-up will boost Scotland’s fortunes in a £1 trillion industry
“The growth of floating offshore wind brings massive opportunities for our underwater supply chain” – Neil Gordon, GUH
A key agreement has been signed to maximise Scottish supply chain opportunities in a floating offshore wind market worth as much as £1 trillion globally.
The memorandum of understanding will see the Global Underwater Hub (GUH) and Scottish Enterprise work in partnership to establish a subsea supply chain ecosystem as a “global centre of excellence” for floating offshore wind. The “strategic partnership” was signed on the opening day of Subsea Expo – GUH’s three-day conference and exhibition which attracts some 6,000 visitors and showcases the latest in subsea innovation and technology.
While the aim of the tie-up is to maximise economic value for Scotland - and the wider UK - from the projected rapid growth in floating offshore wind, it will also support the UK’s transition from the oil and gas sector supply chain into floating offshore wind. As a result, Scottish subsea companies will be able to tap into a market estimated to be worth £1 trillion globally and up to £270 billion in the UK alone.
Neil Gordon, chief executive of the GUH, said: “The growth of floating offshore wind brings massive opportunities for our underwater supply chain. ScotWind alone represents £28bn in development, manufacturing and installation opportunities to bring 30GW [gigawatts] of generating capacity online over the next decade and a further £33bn from operations and maintenance over the full life of a windfarm.
“With extensive experience, skills and technology, honed over five decades in offshore energy, our supply chain is perfectly positioned to meet the challenges and complexity of floating offshore wind.”
Working together, GUH and economic development agency Scottish Enterprise will help sustain and expand the UK underwater industry’s position by “harnessing the innovation and economic opportunities” that are emerging from floating offshore wind technologies. They aim to bring together the companies, organisations, facilities, resources and expertise that can support the growth of the industry in the UK and internationally.
Gaps in the UK’s subsea supply chain capability, infrastructure, resources and expertise, relative to the needs of the floating offshore wind market, will be identified with “targeted support” provided to plug those shortfalls, bosses said. Focus areas will include subsea cable systems, moorings and anchoring, as well as underwater operations and maintenance.
Part of the partnership’s remit will be funding and project development, working collaboratively to co-design and develop initiatives which will make effective use of public sector funding to support projects in the supply chain. It is hoped that the funding will anchor local companies and reinforce their competitive advantage in subsea technology and operations.
They will also develop and oversee joint strategies for business growth services, investment campaigns and foreign direct investment, including financial support and products to attract industry stakeholders, “maximising efficient use of resources and reducing duplication”. The partnership will also lead to the development of agreed industry standards, guidelines and best practice for subsea systems and infrastructure.
Gordon added: “The compelling combination of GUH’s industry specific insight, knowledge and membership with Scottish Enterprise’s provision of resources and support for supply chain development, market access and skills training will ensure that the right support is targeted at the right companies, and the right time, to make a tangible impact on our ability to capitalise on the massive opportunities in floating offshore wind globally.”
Scottish Enterprise’s director for energy transition, Suzanne Sosna, said: “Our vision is for Scotland to be viewed around the world as a centre of excellence for offshore wind, with supply chains that are world-leading in terms of value, competitiveness, and service.
“Collaborative working is essential to the future success of the sector. This [agreement] ensures we will operate hand-in-hand with Global Underwater Hub to really maximise opportunities for supply chain companies, but also to get us to that place where the rest of the world looks to Scotland for the supply chain that will power the energy sector of the future. That thriving sector will provide major employment through fair work which will directly contribute to Scotland's wellbeing economy and 2045 net zero ambition.”
Meanwhile, Aberdeen-based Subsea Supplies, which provides offshore and underwater technology equipment, said it had achieved a record-breaking financial year with turnover of £10 million in 2024. Bosses said the business, which is celebrating its 25th anniversary this year, is planning further growth, including an expansion of its premises and a doubling of its production capabilities.
Based at two units in Murcar Commercial Park, the company is set to expand into a further unit in April, significantly increasing the size of its workshop, allowing for enhanced operations. It has invested in an additional neoprene moulding machine, effectively doubling its production capabilities.
Headquartered in Aberdeen, the company provides subsea equipment and underwater technology to more than 45 countries including Australia, Brazil, Norway, Saudi Arabia, Singapore and the United States.
Pauline McCann, sales director of Subsea Supplies, said: “Reaching the £10m milestone is a tremendous achievement and a testament to the hard work of our team and the loyalty of our customers and partners. As we look ahead to 2025, we are investing in every aspect of the business, from scaling up our facilities and enhancing production capabilities to strengthening our brand and growing our team. This continued investment will allow us to better serve our customers globally and drive further growth in the years to come.
“For more than two decades, we have formed partnerships with respected brands, delivering equipment for a broad spectrum of underwater activities,” she added.
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