Government improves conditions for offshore wind investments in next Contracts for Difference round
Recent news of the government’s intention to increase the maximum price for offshore wind projects in the next round of Contracts for Difference (CfD) aims to renew the interest of investors.
In an article for New Civil Engineer, partner Richard Marsh commended plans to increase in the maximum strike price for offshore wind developments by 66% from £44/MWh to £73/MWh.
Richard Marsh comments:
‘It is encouraging to see the government recognising that the £44/MWh was simply too low to be financially viable for developers, and they reacted accordingly. It is also reassuring to see that the maximum bid prices for solar, geothermal and tidal projects will increase by 29-32% relative to the previous CfD round.’
The full article is available to read on the New Civil Engineer website.