UK's $1.4bn Offshore Wind Auction Budget Too Small to Hit 2030 Target

Sector slams ‘severely restricting’ AR7 offshore wind budget that threatens 50GW by 2030 target

UK renewable sector analysts have decried the latest budget for offshore wind Allocation Round 7 (AR7) as potentially threatening the target of a 50GW capacity on the network by 2030. The post Sector slams ‘severely restricting’ AR7 offshore wind budget that threatens 50GW by 2030 target appeared first on New Civil Engineer.

Windtech International - UK Government outlines next offshore wind auction framework

The UK Government has released details of its upcoming Contracts for Difference (CfD) auction, Allocation Round 7 (AR7), which will support new offshore and floating offshore wind projects. The auction, which opened to applications in August, will allocate contracts to the lowest-priced eligible projects across the 2028/29 to 2030/31 delivery years. Successful bidders will receive 20-year contracts under the CfD scheme.

UK's $1.4bn offshore wind auction budget too small to hit 2030 target

The UK energy secretary, Ed Miliband, has set a budget of £1.08bn ($1.44bn) for developers applying in the upcoming AR7 contracts for difference auction. The UK government set aside £900m ($1.2bn) for fixed-bottom projects, which have delivery years of 2028-29, 2029-30, and 2030-31. Another £180m ($240m) was made available to floating wind projects, with delivery …