Cost reductions for offshore wind in the UK

Wind Industry Profile of

WindEurope welcomes the results of the latest UK Contract for Differences (CfD) auction announced today by the Department for Business, Energy and Industrial Strategy, where offshore wind submitted record bids of £57.50 per megawatt hour including the costs of grid connection.

The winning offshore wind projects – DONG Energy’s Hornsea 2, Innogy and Statkraft’s Triton Knoll and EDPR and Engie’s Moray – will together provide 3.2 GW of new capacity to the UK, enough to power 3.3 million homes. The cost of offshore wind has fallen by an average of 47% since the last CfD auctions results were announced in February 2015. These reductions are due to the rapidly maturing industry, technology development and economies of scale. The UK... ... More: Official Press Release WindEurope

Keywords:

WindEurope, UK, costs, auction, CfD