News
Keep up to date with the latest news from Forth and Tay Offshore.
You can also sign up to our mailing list.
Claim R&D Tax Relief for Grant-Funded Offshore Energy Projects
Member blog
by Fawzi Abou-Chahine, FI Group
Claim R&D Tax Relief for Grant-Funded Offshore Energy Projects
Fawzi Abou-Chahine from FI Group weighs in on the importance of maximising R&D tax relief for grant-funded offshore energy projects. With extensive experience in helping businesses navigate the complexities of R&D tax credits, Fawzi provides valuable insights on how offshore firms can avoid common pitfalls and ensure they are fully leveraging available funding opportunities.
How to avoid common mistakes in R&D tax credit claims.
Recent statistics from HMRC indicate that SMEs in the offshore energy sector are increasingly funding their R&D projects through subsidised expenditure, either via grants or commercial contracts. However, many businesses miss out on potential tax relief simply because they don’t realise their grant-related expenditure is eligible. Below are five ways to help you identify if your project costs are suitable for relief, to help you maximise your funding.
Member Spotlight: V-TES Renewables
V-TES Renewables delivers specialist electrical engineering services to the renewables industry both on and offshore, providing High Voltage (HV), Fibre, Switchgear and Rope Access expertise.
The servicing and maintenance of an offshore wind farm’s electrical system requires a combination of scheduled inspections, routine maintenance, and prompt repairs. Regular monitoring and maintenance activities help ensure the reliable and efficient operation of the electrical infrastructure.
Our expert team of qualified field service engineers and technical support professionals provide electrical design solutions, installation and maintenance support, commissioning, and electrical training to our customers globally.
Propeller Fuels: Your Trusted Partner in the UK Marine Fuel Market
Member introduction
Looking for reliable marine fuel solutions in the UK? Propeller Fuels is a leading physical supplier of marine gas oil (MGO), dedicated to meeting the needs of vessels operating across the UK’s busiest ports. We deliver high-quality marine fuel, tailored services, and unmatched reliability to ensure your fleet operates efficiently and on schedule.
As a trusted name in the marine industry, Propeller Fuels eliminates intermediaries by supplying fuel directly to our clients. This hands-on approach guarantees consistent quality, competitive pricing, and dependable delivery times. Whether you operate workboats, fishing fleets, or large commercial vessels, we’ve got your fueling needs covered.
FTO partner project Inch Cape reaches financial close
The equal joint owners of Inch Cape Offshore Wind Farm, ESB and Red Rock Renewables, have announced that the flagship Scottish project has reached financial close raising more than £3.5 billion of funding.
The 1,080 megawatt (MW) offshore wind farm, located in the North Sea 15 kilometres (km) off the Angus coast, will now progress into its offshore construction phase.
Inch Cape will be the first UK project to use Vestas 15.0 MW turbines and, once operational, will generate almost 5 terawatt hours (TWh) of energy each year. It will comprise 72 turbines on a mix of monopile and jacket foundations, a single offshore substation platform and two 85 km AC export cables delivering power to an onshore substation under construction at Cockenzie, East Lothian.
Terms for the project financing, which includes transmission asset costs, have now been reached with lenders comprising 22 commercial banks.
The project will make a significant contribution to UK’s energy security and emissions reduction targets as well as to the economy through use of local suppliers. Inch Cape has, to-date, spent almost £300 million with more than 300 UK companies including environmental, technical and engineering design consultancies, civil and structural engineers, survey contractors and project management support.
SDS publish “Career Opportunities across Scotland in Offshore Wind"
Skills Development Scotland (SDS) have published a new resource offering insight into the skills picture of offshore wind and the job opportunities it offers.
Offshore wind is critical for Scotland to transition from fossil fuel powered electricity production towards clean, renewable power.
Peak installation will come in the next 10 to 20 years, however, the windfarms themselves will remain operational well into the second half of this century. Offshore wind will support thousands of new jobs and offers a career for life.
The ‘Career Opportunities across Scotland in Offshore Wind’ publication is a unique resource to support the collective push to increase understanding of the many opportunities ScotWind offers, and encourage young Scots in particular to understand and make the most of all the offshore wind job opportunities in their region.
Read the publication here.
RSS