UK Government announces annual CfD Auctions

Commenting on the news that BEIS have announced annual CfD auctions starting in 2023, Danielle Lane, UK Country Manager at Vattenfall and Co-Chair of The Offshore Wind Industry Council, said:

“Annual auctions are a welcome signal to renewable investors and developers that the Government remains committed to rapidly increasing the UK’s offshore wind capacity, something which is urgently needed to help our energy security and to combat climate change. Unleashing renewables will be good for the UK economy, create jobs and is the long-term answer to the energy price crisis.

“The reassurance which developers have been given today could be further strengthened by reducing the level of upfront risk that investors have to take here compared with other countries. A single agency for offshore wind development to coordinate leasing, consents and vital issues such as grid connection and environmental protection - similar to the role the Oil and Gas Authority plays for that sector - could drastically reduce the time and complexity involved in developing offshore projects.”