Offshore Wind Giants to Invest EUR 7.5 Million in OWA’s Cost-Cutting R&D

DONG Energy, RWE, E.ON, Iberdrola, Vattenfall, Statoil, SSE, EnBW and Statkraft have joined Carbon Trust’s Offshore Wind Accelerator (OWA) programme, bringing in GBP 6.4 million (approx. EUR 7.5 million) to help reduce the cost of offshore wind power below GBP 100/MWh by 2020.

The fund of EUR 7.5 million that the companies will jointly invest in research and development of innovative technologies which will lower the cost of offshore wind will be boosted with an additional GBP 1.5 million (approx. EUR 1.8 million) from the Scottish government.

At the end of the last month, the Scottish government announced that it had awarded GBP 1.5 million to Carbon Trust, which will fund projects in regard to floating offshore wind technology in Scotland, international collaboration on efficiency of Scottish offshore wind projects, and knowledge sharing on innovation and cost reduction between partners.