​A significant investment of £225 million has been secured for a wind turbine parts factory currently under construction at Teesworks Freeport, near Redcar. This financial boost is set to enhance the factory's capacity, allowing it to produce larger components for the rapidly expanding offshore wind industry.

The facility, operated by SeAH Wind UK, will focus on manufacturing monopiles - the robust structures used to support offshore wind turbines. These monopiles will be exported to key markets across Europe and the United States, marking a significant step in the UK's role in global renewable energy development.

SeAH Wind UK, a subsidiary of South Korea's SeAH Steel Holdings, began construction at the Teesworks site in 2022. With this latest injection of capital, the company aims to establish itself as the UK's first monopile manufacturer, with ambitious plans to contribute substantially to the nation's economy.

The investment was made possible through financial backing from UK Export Finance (UKEF) and the Korea Trade Insurance Corporation. These guarantees have enabled SeAH Wind UK to secure funding from major banks, Standard Chartered and HSBC UK. The factory is expected to generate 750 jobs by 2027, further boosting the local economy and supporting the UK's push towards renewable energy solutions.

The enhanced production capabilities of the factory will help meet the growing demand for offshore wind energy infrastructure, a vital part of the UK's renewable energy strategy. With wind power playing a key role in the nation's transition to cleaner energy, this new facility is poised to play an essential part in addressing global energy challenges.

This investment positions SeAH Wind UK as a key player in the offshore wind supply chain, providing essential infrastructure to support the growing global demand for clean energy sources.