The UK’s National Wealth Fund (NWF) has announced a £15 million loan to support the development of a new operations and maintenance (O&M) centre in Great Yarmouth, designed to strengthen the country’s offshore wind supply chain and boost economic growth in the region.

The financing will enable the delivery of the £28 million project, which includes refurbishing and upgrading 240 metres of river quay, installing a new pontoon for offshore wind Crew Transfer Vessels, and improving shore infrastructure and utility connections. The initiative is being led by Norfolk County Council, in partnership with Great Yarmouth Borough Council and the Ministry for Housing, Communities and Local Government, with construction already underway.

According to the NWF, the project is expected to create around 650 new jobs and help position Great Yarmouth as a key hub in the UK’s growing offshore wind sector. The regeneration of industrial land near the town’s port into a modern O&M facility will enhance the region’s ability to capitalise on the expanding offshore energy industry along England’s east coast.

The announcement comes as energy company RWE confirmed that it will base the operations and maintenance facility for the Norfolk Offshore Wind Zone in Great Yarmouth. The zone consists of three wind farms located 50 to 80 kilometres off the Norfolk coast, each with a planned capacity of 1.4 gigawatts, together capable of powering more than four million homes across the UK.

The O&M Campus also supports the goals of the UK Government’s Modern Industrial Strategy, which aims to quadruple offshore wind capacity by 2030. Achieving this target will require major investment in port infrastructure, manufacturing, grid upgrades and supply chain development — areas the NWF has been tasked with supporting. Ports are one of the five priority subsectors identified by the Chancellor for the fund’s additional £5.8 billion capital deployment.

Chancellor of the Exchequer Rachel Reeves said the investment is part of the government’s wider effort to revitalise regional economies. 

“We are investing in Britain’s renewal, and this National Wealth Fund loan will create 650 jobs and power four million homes by clean energy,” Reeves said. “It’s just one of billions of pounds worth of investments being announced today at our Regional Investment Summit, reversing decades of underinvestment and decline, slashing red tape to open up opportunities for businesses and kickstarting economic growth in every corner of the UK.”

Lorna Pimlott, Managing Director for Local Authority Function at the NWF, highlighted the project’s strategic importance for the sector.

“Great Yarmouth’s new operations and maintenance centre will be crucial to supporting the growth of the offshore wind industry in Norfolk. NWF’s loan will provide the Council with the low-cost financing it needs to deliver the necessary refurbishments and upgrades to the site, supporting local jobs and cementing Great Yarmouth’s strategic position in the UK offshore wind supply chain.”

Cllr Graham Plant, Cabinet Member for Highways, Infrastructure & Transport at Norfolk County Council, welcomed the funding as a “massive vote of confidence” in the region. “The O&M Campus will deliver employment for people in the area and promote the town as a place to invest and one that has a critical role to play in the economic prosperity of the country,” he said.

With construction already underway, the Great Yarmouth O&M hub represents a major step forward for the UK’s offshore wind ambitions, supporting local growth while contributing to the country’s transition toward clean energy.