UK warned $1bn offshore wind budget is 'missed opportunity'

The UK will more than triple its budget to support offshore wind in its upcoming renewable energy auction as it attempts to head off a repeat of last year’s flop – but was warned it will be enough to secure barely half the full potential capacity up for grabs.

The British government will allocate up to £800m ($1.01bn) for contract-for-difference (CfD) deals for offshore wind in this year’s round, known as AR6.