The Carbon Trust and the Energy Technologies Institute (ETI) have launched a £40 million initiative to cut the cost of offshore UK wind farms.
The pair are working together to invite industry groups to register interest in developing new technologies for producing offshore energy from wind.
Backers said that the initiative could boost confidence for large-scale investments in offshore wind farms.
The Carbon Trust estimates that the capital costs of developing offshore wind technology are about twice that of onshore developments.
ETI chief executive David Clarke said: "By pooling resources and expertise in this way, the Carbon Trust and the ETI are offering a very significant and attractive funding opportunity, which should lead to greater progress in developing and demonstrating new technologies."
Tom Delay, chief executive of the Carbon Trust, added: "Offshore wind represents one of our best shots for delivering vast amounts of carbon-free power over the coming years and also represents a huge economic opportunity for UK plc."
The government last week announced plans to open up a further round of development for offshore wind farms in the UK, which is expected to produce 33 gigawatts of energy from offshore wind by 2020.
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