UK cuts CfD budget by 80 percent

All winning projects from the most recent offshore wind auction would be too expensive to come under consideration in the UK's next Contract for Difference round in May. Approximately one-tenth of the promised amount will end up being allocated over the coming three rounds.
Photo: Ørsted
Photo: Ørsted

When it comes to offshore wind, there is seldom opportunity to rest on one's laurels. When the UK last September announced the three winning bids in the most recent Contract for Difference (CfD) auction, news that projects Hornsea 2 and Moray East would be able to be installed for only GBP 57.5 took all the headlines. However, in the coming auction, planned for May, these projects would end up being too costly, reports the British Ministry of Energy in its latest budget draft.

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