UK Secures 8.4 GW Offshore Wind to Power 12 Million Homes
TL;DR Summary
Britain's government awarded guaranteed electricity prices in an offshore wind auction, approving 8.4 GW of capacity that could power about 12 million homes. The average strike price was around £91/MWh (2024 prices), potentially unlocking about £22 billion in private investment and marking a revival of offshore wind with developers including RWE–KKR–Masdar and SSE. The move supports a 2030 target for 95% clean electricity, though some analysts warn the deals may still keep consumer bills high.
Topics:business#12-million-homes#energy#offshore-wind#private-investment#strike-price#uk-energy-policy
- Britain Awards Wind Farm Contracts That Will Power 12 Million Homes The New York Times
- Two offshore wind farms win funding off Wales coastline BBC
- With this record wind power auction, we’ve proved the rightwing doubters wrong | Ed Miliband The Guardian
- Record UK offshore wind auction boosts plan to decarbonise by 2030 Financial Times
- RWE secures Contracts for Difference for 6.9 gigawatts of offshore wind capacity in UK Allocation Round 7 and agrees a long-term partnership with KKR RWE
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