Improving load factors, rising competition among developers, and the prospect of expanding electrification have contributed to falling offshore wind costs, experts say. The U.K. notched up its lowest offshore wind prices to date, with the results of Friday’s tender putting prices as low as $50 megawatt-hour. SSE, Innogy and Equinor were among the biggest winners. The scaling up and improvement of turbine technology rightly receives a lot of the plaudits, but Peter Brun, head of the global offshore wind segment at DNV GL, points to several overlooked contributing factors to offshore wind’s rapid price decline. A recent study, commissioned by the U.K. government and carried out by DNV GL, noted that load factors for offshore wind have the potential to creep beyond 50 percent, which Brun said impacts the levelized cost of electricity “immensely.”
Green Tech Media 23rd Sept 2019 read more »
The coast of East Anglia will undoubtedly become home to a large proportion of the 37 wind farms the Labour Party has pledged to build if it enters government, an expert predicts. Labour wants to significantly ramp up the already burgeoning sector as the cost of offshore wind fell below £40 per megawatt hour of electricity last week, claiming the rate of progress was too slow. If its plans go ahead, the east coast will be a prime site to locate a good proportion of the wind farms proposed, said Simon Gray, chief executive of East of England Energy Group (EEEGR). The state would take a 51% stake in the farms under Labour’s plans, with a fifth of profits invested in coastal communities. The rest of the profits would be reinvested into new renewables, improvements to the energy system and climate transition.
Eastern Daily Press 24th Sept 2019 read more »
Labour has pledged to build dozens of state-owned offshore wind farms if it wins the next general election. Until now, support for offshore wind development from successive UK governments has been limited to subsidy payments to offset the costs of renewable energy produced by wind farms in the North Sea. But Labour want to take that one stage further by actually building 37 new offshore wind farms under public ownership. It says the UK should follow countries like Norway and Sweden by having a physical stake in the offshore wind sector.
Hull Daily Mail 24th Sept 2019 read more »
Labour today revealed plans to take a majority stake in all new offshore wind farms and pledged a boom in renewable power. The party said it would invest £6.2bn into jump starting home-grown renewable industry. It hopes to unlock a £83bn investment.
City AM 24th Sept 2019 read more »
Labour pledges massive investment in 37 offshore wind farms creating 67,000 jobs.
Mirror 24th Sept 2019 read more »