The UK has set a target of 40GW offshore wind by 2030
UK sets £200mn budget for offshore wind CfD
Latest budget will ringfence £24mn for floating offshore wind, and includes onshore wind and solar for first time since 2015
The UK government has announced a budget of £265mn ($366mn) for the fourth round of its renewables contracts for difference (CfD) subsidy scheme. Offshore wind has been allocated a pot of £200mn—far more than any other technology—with no capacity cap. The UK raised its 2030 offshore wind target from 30GW to 40GW in October last year. A total of £55mn has been allocated to “less established technologies”, including floating and remote island wind, tidal stream, wave and geothermal energy—as well as dedicated biomass with combined heat and power. Of this, £24mn has been ringfenced for floating offshore wind. “We could see investment of over £20bn on the back of the next clean power
Also in this section
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions
13 January 2025
The region’s fast-growing economies stand at a pivotal juncture, with the opportunity to drive a sustainable growth strategy that will keep the world’s net-zero ambitions alive
10 January 2025
Global energy demand keeps rising, and digital technology will play a crucial role in both meeting that demand and doing so in a sustainable way
