The government has increased the maximum price for offshore wind projects in its flagship renewables scheme to further cement the UK as a world leader in clean energy.
Following an extensive review of the latest evidence, including the impact of global events on supply chains, the government has raised the maximum price offshore wind and other renewables projects can receive in the next Contracts for Difference (CfD) auction to ensure it is performing effectively.
Read the full Government announcement here
BBC Article from 16th November – Price paid for offshore power to rise by 66%
The price paid to generate electricity by offshore wind farms has been raised by 66% as the government tries to entice energy firms to invest.
It comes after an auction for offshore wind projects failed to attract any bids, with firms arguing the price set for electricity generated was too low.
The government has lifted the price it pays from £44 per MWh to £73.
Interested in the FLOW development in Cornwall? Contact CMN to find out more about our work with the supply chain as well as local, regional and national government and organisations
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