“Our seas hold immense potential to power our homes and communities with low-cost green energy”.
On 6 October 2020 the British Prime Minister announced a plan to allocate £160m towards the upgrade of ports and infrastructure in the UK with a view to the UK becoming a leader in clean wind energy. Further targets of 40GW of offshore wind and 1GW of floating offshore wind by 2030 were also announced.
This should all be seen in the context of the UK’s net zero emissions target by 2050 and the recent changes that have been made and further changes that are anticipated to be made to the Contract for Difference (“CfD”) Scheme. All together they seem to amount to a real commitment to the renewables space, and in particular the offshore wind space.
It is hoped that further detail will be provided in the much anticipated but significantly delayed Energy White Paper which is scheduled to be published late 2020.