It’s been a difficult year for the offshore wind sector, with numerous projects and power purchase agreements getting canceled. Contracts and incentives simply haven’t kept pace with rising costs, forcing developers to shelve money-losing projects.
So is the offshore wind sector hitting a wall, or merely some temporary speed bumps on the path to a bright future?
We're think it's the latter, as do industry and government insiders.
In this episode, we take stock of the offshore wind sector, with a focus on the UK. This is our second show based on Chris’ travels to the UK in the Autumn of 2023. The first was Episode #212, about the energy transition on the Isle of Eigg. In this episode, Chris interviews two key players in the UK’s offshore wind industry, and tours a Scottish port, witnessing firsthand the foundations for a new offshore wind project being readied for installation. We also discuss the failure of the UK’s Contract for Difference (CfD) incentive auction for offshore wind this year, and its impact on the offshore wind supply chain. And we conclude with a look at what the government is doing to ensure the next auction is a success.
Geek rating: 3