OWIC welcomes Government’s commitment to secure investment in new offshore wind farms
Commenting on the Government's announcement of the parameters for the next annual CfD auction (Allocation Round 6), the Co-Chair of the Offshore Wind Industry Council (OWIC) Richard Sandford said:
“OWIC welcomes the Government’s commitment to secure investment in new offshore wind. Having the right framework in place for private investors is essential for the development of new UK projects which will get us closer to our shared target of 50GW by 2030, create jobs and offer consumers lower cost power at scale.
“The potential economic prize is huge – growing our offshore wind supply chain alone represents a £92 billion boost to the UK economy by 2040. This is why we're already working with the Government on an Industrial Growth Plan for offshore wind to ensure the UK grasps the opportunities available in our domestic market and growing global demand.
“The offshore wind industry will continue to work closely with Ministers to retain the UK's position as a global leader in offshore wind, ensuring that each annual auction round enables us to build on our success”.
More details on the Government’s announcement are available here:https://www.gov.uk/government/news/boost-for-offshore-wind-as-government-raises-maximum-prices-in-renewable-energy-auction