Zero. That was the sum total of new UK offshore wind projects bought by developers at a key government auction Thursday, as renewable energy groups shunned the sector as unviable even with heavy taxpayer subsidies.https://t.co/Mm62urvnzC
— Wittgenstein (@backtolife_2023) September 8, 2023
Zero. That was the sum total of new UK offshore wind projects bought by developers at a key government auction Thursday, as renewable energy groups shunned the sector as unviable even with heavy taxpayer subsidies.
The BBC reports potential firms argued the consumer price set for electricity generated was set too low to make offshore wind farms viable.
For its part the government blamed the zero bids on a “global rise” in inflation impacting supply chains that had “presented challenges for projects.”
It said while offshore and floating offshore wind projects did not feature on the agreed deals list, the outcome was “in line with similar results in countries including Germany and Spain.”
The Department for Energy Security and Net Zero acknowledged the lack of new offshore wind farms will be a blow to the pledge to deliver 50 gigawatts (GW) of the source by 2030 compared with 14 GW today.
The government’s annual auction invites companies to bid to develop renewable energy projects and contracts to supply the UK grid with electricity through offshore wind farms amongst other alternatives.
