The UK’s offshore wind farm debacle and its consequences for Net-Zero
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Sunday, September 10th, 2023
The UK's latest offshore wind farm auction fell flat. No bids were received, which surprised no one. Warning signs that the auction would fail had been known for some weeks. For this year at least, no new offshore wind farm projects will be announced. With the planned Norfolk Boreas wind farm halted, the UK's offshore wind power has ground to a halt.
This isn't so much evidence that wind power is dead in the water, more that the UK Government failed to listen to industry. While construction costs are significantly lower than when the first offshore wind farms were auctioned a decade ago, the past two years has seen costs increase by 40%. A war in Ukraine, global pandemic disrupting supply chains, general inflation and rising debt costs contributed to this rise, [keep reading...]