UK: The world’s hugest offshore wind farm to be built by Dong Energy

12/09/2017 15:34 Wind

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The UK contract to build 1.4 gigawatts (GW) capacity at its Hornsea 2 wind power project, likely to be the world’s hugest offshore wind farm, has been awarded to DONG Energy.

According to the Danish wind firm, the guaranteed price to deliver power, established under the Contracts of Difference (CfD) scheme, is 57.50 pounds/MWh, or 50 % lower than the allocations at auction two years ago.

 

The replacement of direct subsidies for renewable power with a contracts-for-difference (CfD) system was part of the reforms to Britain’s electricity market.


According to the scheme, a minimum price is guaranteed for the eligible projects, at which these can sell electricity, and renewable electricity producers bid for CfD contracts in a round of auctions.

 

The Hornsea Project Two will have enough power to supply 1.3 million homes with electricity.

Daily (15.11.2017): European carbon prices increased slightly on Tuesday after 5-day losing streak

15/11/2017 10:50:00

Oil prices dropped for a third consecutive day on Tuesday on forecasts for higher U.S. crude production and a gloomier outlook for global demand growth in a report from the International Energy Agency (IEA).

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