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3d ago

UK Sets £1.08 Billion Offshore Wind Budget as AR7 Auction Timetable Opens

Industry groups warn the initial pot could secure only a fraction of eligible projects, putting the 2030 clean‑power goal at risk.

Dudgeon Offshore Wind Farm, operated by Equinor and its partners off the Norfolk coast in the UK: For illustrative purposes
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Illustration; Sheringham Shoal offshore wind farm in the UK; Photo source: Equinor
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Overview

  • The initial annual budget is split into £900 million for fixed-bottom projects and £180 million for floating wind under Allocation Round 7.
  • Developers will submit sealed bids between 11 and 17 November, with auction results due on 14 January.
  • Successful projects will receive 20‑year Contracts for Difference, with administrative strike prices set at £113/MWh for fixed-bottom and £271/MWh for floating wind.
  • Aurora Energy Research estimates the funding could procure about 4.9 GW, well below the 7–9 GW per round analysts say is needed to stay on track for 2030.
  • Ministers describe the figure as an initial budget that could be increased for value‑for‑money projects, and CfD top‑ups are funded via bills with repayments to consumers when market prices exceed the strike price.