The government has today (8 September) announced the results of the latest offshore wind auction – Auction Round 5 (AR5).
Results showed no bids for new offshore wind farms, but there were deals for solar, tidal and onshore wind projects.
Commenting on the results, OEUK sustainability and policy director Mike Tholen said:
“The poor uptake of the AR5 wind auction is a matter of great concern given that offshore wind will be imperative to decarbonise our economy. It is a clear indicator that the system is in urgent need of attention.
“Our latest Economic Report figures show £80 billion could be spent on offshore wind investments by 2030, but around half of this is waiting on Final Investment Decisions from businesses that need to be presented with a commercially attractive offering.
“A successful auction programme will support the growth of the UK’s offshore supply chain into wind as we move into deeper and more distant waters, creating fresh jobs that build on our North Sea heritage.
“To deliver the UK’s ambitious wind targets, a policy reform must take place, and we will seek to work with government to revise the investment mechanism, implement proper pricing for generators and reduce the costs of doing business in the North Sea.”