ScottishPower and Shell have announced that they will invest a total of £75 million to help the supply chain and businesses support the growth of the offshore wind industry in Scotland.

ScottishPower and Shell were awarded the seabed rights to develop two new floating wind projects through Crown Estate Scotland's ScotWind Leasing at the start of the year:

• MarramWind joint venture off the north-east coast of Scotland (3GW)

• CampionWind joint venture off the east coast of Scotland (2GW)

In addition, ScottishPower was awarded the seabed rights for a fixed foundation project off the coast of Islay – MachairWind (2GW).

Collectively, the projects have the potential to create enough clean energy to power almost 8.5 million homes – more than three times the number of homes in Scotland.

Each of the floating projects will benefit from a £25 million supply chain stimulus fund from ScottishPower and Shell, with a £25 million fund linked to MachairWind provided by ScottishPower alone.

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The funds – announced today at Scottish Renewables' Offshore Wind Conference in Glasgow – are designed to help create new offshore wind capability in Scotland that would not otherwise be possible.

Mandy Gloyer, New UK Offshore Sites Manager for ScottishPower Renewables, said: "These funds will open up huge opportunities for the supply chain in Scotland as we gear up to lead the development of commercial-scale floating wind and kick start a new global green offshore industry.

"We look forward to working with government, partners, industry and the supply chain to shape the funds and maximise their impact on the Scottish economy, with jobs and investment for local people and businesses across the country. This is a really exciting time and a great chance for companies to get involved in delivering a clean energy future."

Melissa Read, UK Offshore Wind Business Manager, Shell said: "These funds are in addition to direct project investment in supply chain facilities and will directly support the Scottish supply chain. This includes businesses keen to make the transition to the renewables sector through investment in infrastructure, facilities that will manufacture and service offshore wind projects and support for companies to innovate and upskill."

Applications to the funds will open up later in the year. Online supply chain registration portals for all three projects are now live, giving organisations the chance to get involved in working with ScottishPower and Shell to shape the next chapter for the offshore wind industry.