Renewable Energy – UK
The UK today awarded power deals to just over 5GW of offshore wind in its latest renewable energy auction, which saw 9.5GW of green projects awarded contracts in total.
Most of the 5.3GW of winning bottom fixed offshore projects came in with ‘strike prices’ of £54.23/MWh at 2012 prices ($71.1/MWh). The 400MW Green Volt floating wind project was also a winner at a strike price of £139.93/MWh.
In the onshore wind sector, around 990MW of capacity was secured across 21 projects, with 15-year government-backed contracts at a strike price of £50.90/MWh, which is significantly below the £64/MWh bid ceiling set before the tender.
Solar projects totaling over 3GW have also secured Contracts for Difference, making solar the second most supported technology after offshore wind. Approximately 1GW is expected to be delivered in 2026-27 and just over 2GW in 2027-28, with a total allocated capacity of 3288.31MW. The strike price for these projects is £50.07/MWh, higher than the £47/MWh in the previous round (AR5).
Tidal stream projects secured 28MW across six contracts in the sixth allocation round from the Department for Energy Security and Net Zero. Five of these contracts are in Scotland and one in Wales, with a strike price of £172/MWh, down from £198/MWh in the previous round.
