Wave and tidal developers push for more strategic support to capture the full industrial potential of marine energy.
Contracts for Difference (CfD)
There is “quite a lot of scepticism in the developer community” for the UK’s plans around the Contracts for Difference (CfD) auction, a leading firm has warned.
The profitability of oil and gas versus the excitement for renewables is creating an interesting dynamic for investors across the energy industry.
The UK continues to maintain its position as one of the leading and most developed offshore wind markets in the world, with an installed capacity of over 14 gigawatts (GW), and an ambition to secure 50 GW of offshore wind capacity by 2030.
AR6 could be the ‘catch up auction’ for offshore wind projects after last round failed to attract bids.
A new survey of the UK's offshore wind supply chain finds a decline in confidence since last year, as inflation and a disappointing CfD round dent expectations.
As we near the end of 2023 with energy transition at the fore of the COP28 conference, it is a good opportunity to reflect on current actions being taken to reach net zero.
The UK Government is consulting on so-called “sustainable industry rewards” for what it hopes to be its “most impactful” Contracts for Difference (CfD) offshore wind round yet.
The crisis engulfing Europe’s wind industry is proving to be a wake-up call: things have to change radically to make progress on what’s a key part of the climate transition.
The UK government has increased the prices available for offshore wind in next year's Contracts for Difference auction round following disappointment.
The UK government is preparing to offer significantly higher subsidies for new offshore wind farms to get the country’s clean-power strategy back on track after developers shunned a previous auction.
Sweden’s Vattenfall may still hold on to a UK wind project that it shelved over the summer, as talks continue with the government to improve conditions for developers.
And so it came to pass …. I was writing here last month when the announcement on the latest Contract for Difference round was imminent and it appeared a distinct possibility that offshore developers would give it the cold shoulder. As indeed they did.
The once-booming UK offshore wind industry faces years of pain, including project delays and possible cancellations, due to soaring costs and higher interest rates.
A washout of offshore wind in the latest Contract for Difference round is a wake-up call to government – but can issues be fixed to ensure Scotwind projects don’t founder?
Why did the auction flop? And what needs to change?
Was the government’s recent auction a “record-breaking” success for renewables or a total wipeout?
“By capping the price the sector could bid at too low, government set it at a level that made it impossible for investors to meet their costs."
A lack of offshore wind bids for the AR5 CfD auction would be the "biggest failure" in UK green energy since 2015, industry figures have said.
There have been no bids for new offshore wind farms in the government’s CfD auction this week, according to a news report.
The UK’s annual renewable energy auction may not include offshore wind for the first time since the system for awarding subsidies began.
Energy sector representatives have written to the government warning that a focus on price alone in procuring new renewables capacity risks a “race to the bottom”.
Profits from Equinor’s (OSLO: EQNR) Hywind Scotland scheme surged last year as legacy renewables projects unintentionally gained from Europe’s gas crisis.
The UK government has set out a reform to its contracts for difference scheme as it hopes will drive investment in the country’s renwables sector.
The UK government has confirmed the overall budget for the next contracts for difference (CfD) auction, with support worth £205m up for grabs.