UK government announces £800m support package for offshore wind farms, part of £1bn green power investment.
The UK government has announced a £800m support package for new offshore wind farms, tripling its previous budget and forming part of a £1bn investment in green power. The funding, which comes from energy bills rather than general taxation, will be used for offshore wind projects from 2027 and other renewable schemes such as solar farms, floating offshore wind and wave power. The maximum guaranteed price for the next auction is set at £73 ($91) per megawatt-hour, up from £44 last year, not accounting for inflation.
March 06, 2024
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