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.
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.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Vestas gets orders in Spain
For subscribers
Cowi searches for engineers up to US offshore wind boom
For subscribers
