8
Offshore wind project pipeline could exceed ambition, but not all expected to succeed.
Conclusion
The Department also told us that it is tracking offshore wind projects at various stages of development that could produce 80GW of electricity when operating, more than its 50GW ambition. However, it acknowledged that not all these projects would succeed. It told us that it has established an offshore wind champion and acceleration taskforce to identify barriers to this technology. The Department also told us that it works closely with The Crown Estate, and Crown Estate Scotland, which have responsibility for seabed leasing on which offshore windfarms are sited.23 It noted that the contracts for difference mechanism has resulted in increases in offshore wind capacity from 1GW in auction round one to 7GW in auction round four.24 Providing clarity and confidence to private investors
Source
Committee
Public Accounts Committee
Inquiry
Decarbonising the power sector
Report
Fifty-Ninth Report - Decarbonising the power sector
21 Jun 2023
HC 1003
Addressee Bodies
HM Treasury
Timeline
Recommendation age
2.9 yrs
Report published
21 Jun 2023