Great news for Green Energy - the Government has revamped its Contracts for Difference (CfD) scheme to help deliver more offshore wind, which is a key component in reaching clean energy targets.
Key changes include extending the support periods from 15 to 20 years, plus increasing maximum bid prices - recognising rising costs. There's also a new £544 million Clean Industry Bonus to assist companies in the offshore win supply chain.
These changes aim to breathe fresh life into the sector, following a lull in bidding in 2023, and keep Britain on track for its goal of 43-50 GW of offshore wind power by 2030.