Related Articles
The UK has set a target of 40GW offshore wind by 2030
Forward article link
Share PDF with colleagues

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 powe



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Turbine manufacturers post major losses
26 January 2022
GE and Siemens Gamesa Renewable Energy have announced multimillion-dollar losses over 2021 and the past quarter, while Vestas posts cautious 2022 guidance
New EIB-backed energy efficiency fund to tackle ‘huge underinvestment’
26 January 2022
Solas Sustainable Energy Fund to support energy efficiency projects mainly in Germany, Spain and Ireland and is aimed at small-to-mid-size insurers and pension funds
Crediting emissions saved in plugging oil and gas wells
26 January 2022
Avoided emissions could be credited as carbon offsets and sold on exchanges
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video