UK offshore wind sector smashes records with lowest ever price auction

 

The UK has announced record low prices for offshore wind energy in the latest Contracts for Difference (CfD) auction round, with prices dropping below £40 per MWh.

The Department for Business, Energy and Industrial Strategy (BEIS) confirmed that 6GW of new offshore wind capacity will be delivered at £39.65 per MWh – 30% lower than prices seen in the second CfD auction of 2017.

There were a total of six winning bids for offshore wind, three of which form part of the 4.8GW Dogger Bank project off the Northeast coast of the UK. Dogger Bank is being developed by Forthwind – a consortium comprised of SSE, RWE, Equinor and Statkraft.

UK Prime Minister Boris Johnson said: “The UK is leading the way in the fight against climate change, and it’s great news that millions more homes will be powered by clean energy at record low prices.

“Seizing the opportunities of clean energy not only helps to protect our planet, but will also back businesses and boost jobs across the UK,” he added.

@RGNonline