Eleven new energy projects announced as offshore wind costs fall
In the latest competitive auction for renewable technologies, eleven new energy projects worth up to £176m per year have been successful, the government has announced.
The projects will be delivered across Great Britain in locations including Wales, the Scottish Highlands and the West Midlands, from 2021 and will generate over 3GW of electricity, enough to power 3.6 million homes.
The investment will generate thousands of new jobs in the renewable energy sector and will support the UK, which has the largest offshore wind capacity in the world, in meeting climate targets.
Richard Harrington, Minister for Energy and Industry, said: “The offshore wind sector alone will invest £17.5bn in the UK up to 2021 and thousands of new jobs in British businesses will be created...This government will continue to seize these opportunities as the world moves towards a low carbon future, and will set out ambitious proposals in the upcoming Clean Growth Plan.”
Significant cost reductions have also been seen, with the cost of new offshore wind projects starting to generate electricity from 2022-2023 now 50% lower than the first auction in 2015.