UK sets £200mn budget for offshore wind CfD
Latest budget will ringfence £24mn for floating offshore wind, and includes onshore wind and solar for first time since 2015
The UK government has announced a budget of £265mn ($366mn) for the fourth round of its renewables contracts for difference (CfD) subsidy scheme. Offshore wind has been allocated a pot of £200mn—far more than any other technology—with no capacity cap. The UK raised its 2030 offshore wind target from 30GW to 40GW in October last year. A total of £55mn has been allocated to “less established technologies”, including floating and remote island wind, tidal stream, wave and geothermal energy—as well as dedicated biomass with combined heat and power. Of this, £24mn has been ringfenced for floating offshore wind. “We could see investment of over £20bn on the back of the next clean power
Welcome to the PE Media Network
PE Media Network publishes Petroleum Economist, Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry
Comments