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UK More Than Doubles Clean Energy Scheme for Offshore Wind

Summary by Oil Price
The UK is more than doubling the funding for a so-called Clean Industry Bonus to support offshore wind projects, just as the world’s biggest offshore wind project developer, Orsted, pulled the plug on a major UK plan due to worsened economics. The UK government announced on Friday that it is bumping up the budget for the Clean Industry Bonus to $722 million (£544 million) from an initial $265 million (£200 million). Under the Labour government’s…

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Bloomberg broke the news in United States on Thursday, May 8, 2025.
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