As the UK government’s Department for Business, Energy & Industrial Strategy launches the consultation on amending the Contract for Difference (CfD) process in order to integrate much more floating wind, it is worth considering why this is required and what it can achieve. The CfD, once seen as just yet another form of subsidy, has now taken on a new role in the energy sector – an effective mechanism for propelling growth in the supply chain, unlocking untapped offshore resources, and delivering low-cost renewable energy to the consumer.
'Forecasts of a $45bn UK floating wind market by 2050 might be modest'
The UK’s re-wiring of its Contracts for Difference system to include a place for the emerging sector could catapult it into the global energy system big time, writes Cian Conroy
6 March 2020 14:31 GMT
Updated
6 March 2020 14:48 GMT
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