LONDON, July 24 (Reuters) - Britain will increase the guaranteed price offered for offshore wind projects in this year''s renewables auction by 11%, government documents showed, amid rising...
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The UK government has raised the maximum price it is willing to guarantee for electricity generated by new wind farms, in a move aimed at reinvigorating investment in renewables and keeping on track to deliver a
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Our Standards: The Thomson Reuters Trust Principles. Britain will increase the guaranteed price offered for offshore wind projects in this year’s renewables auction by 11%, government documents showed, amid rising costs for projects due to inflation and supply chain bottlenecks.
"Rejoice: Britain's huge gamble on offshore wind has hit the jackpot". The Daily Telegraph. Archived from the original on 12 January 2022. Retrieved 21 September 2019. ^ "Clean energy to power over seven million homes by 2025 at record low prices". GOV.UK. Retrieved 20 September 2019. ^ "What is a Contract for Difference and why do we need it?".
According to the latest data from the International Energy Agency (IEA), the global electricity generation from wind power was approximately 1,335 terawatt-hours (TWh) in 2020. This represents an increase of 16% compared to 2019 and is equivalent to the annual electricity consumption of more than 130 million average households in the United States.
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