Dundas Consultants has found that the contracts for difference (CfD) scheme has dished out more than £8 billion in renewables subsidies, with over 80% of projects yet to receive funds.
It’s great to learn that investment in wind energy across Europe more than doubled last year compared to 2022, driven by record financing of North Sea offshore wind projects.
"The market is shifting. The contractor side is gaining bargaining power, the clients in my world are stepping back and negotiating with contractors who are just saying no. A line has been crossed.”
The UK government has increased the prices available for offshore wind in next year's Contracts for Difference auction round following disappointment.
Last year It was reported that the Ossian floating offshore wind farm would be targeting 3.6GW, a gigawatt upgrade to what was initially advertised.
A washout of offshore wind in the latest Contract for Difference round is a wake-up call to government – but can issues be fixed to ensure Scotwind projects don’t founder?
Why did the auction flop? And what needs to change?
Was the government’s recent auction a “record-breaking” success for renewables or a total wipeout?
A lack of offshore wind bids for the AR5 CfD auction would be the "biggest failure" in UK green energy since 2015, industry figures have said.
There have been no bids for new offshore wind farms in the government’s CfD auction this week, according to a news report.