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

12/09/2017 15:34 Wind

news

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 (20.09.2017): WTI crude price dipped to $49.48 a barrel on increased U.S. shale production

20/09/2017 10:47:00

Oil markets dipped on Tuesday, influenced by increasing U.S. shale production and worries that another hurricane hitting the Caribbean could affect refineries and disrupt delivery to and from the United States.

<READ MORE

9 Traits of Highly Effective Energy Consultants [Infographic]

20/09/2017 10:30:00

Procuring energy and managing related risks presents businesses with unique challenges unlike any other goods or services they purchase. Besides, energy commodity prices can be extremely volatile. They can go up and down and are susceptible to unpredictable price increases. They’re also governed by a complex set of rules and inter-relationships.

READ MORE

Global energy consumption to rise by 28% between 2015 and 2040

19/09/2017 13:59:00

By the year 2040, global energy consumption might increase by 28%, as forecasted by the US Energy Information Administration (EIA).

READ MORE