The Offshore Renewable Energy (ORE) Catapult has welcomed today’s announcement from the UK Government that funding will be available from April 2017 in the next round of competitive auctions to support the UK’s offshore renewable energy industry.
“This is a great vote of confidence in our sector. The certainty of a forthcoming auction is crucial as project investment support means continued investment in the UK’s supply chain, research and development and innovation, all of which are vital in providing thousands of jobs and continuing the cost reduction journey, maintaining the UK’s position as a world leader in offshore renewable energy,” said Andrew Jamieson, ORE Catapult’s Chief Executive.
Based on the figures announced today of an allocated £290m for projects commissioning in 2021/22 and 2022/23, ORE Catapult anticipates this would equate to approximately 1 to 2GW of installed capacity over the two commissioning windows, enough to power 1 to 2 million homes.