Commenting on the opening of the latest UK offshore wind auction, Matthew Wright, Managing Director at Ørsted UK, said: “The Offshore Wind Sector Deal, agreed by industry and Government in March, brought a level of certainty to the future of offshore wind in the UK, with a promise of regular clean electricity auctions at least every two years. As a company committed to the UK market, we strongly endorsed this approach as it allows developers and the supply chain to continue to invest in this clean growth industry.
“We believe the Contracts for Difference (CfD) scheme has been integral to the UK’s success in leading the deployment of offshore wind globally, and has helped the industry bring down costs to a level below that of fossil fuels. In 2017, we were delighted to win a CfD for Hornsea Two at £57.50, the lowest ever price for offshore wind in the UK, and a 50% drop in price from contracts just two years previously. This level of cost reduction is the result of supportive Government frameworks and policies, like the CfD, bringing confidence to investors and the benefits of scale and certainty to the supply chain.
“Whilst we won’t be entering any projects in this auction, we have a pipeline of substantial projects in development, and look forward to participating in the future auction rounds as the UK builds the backbone of a new renewable energy system powered by offshore wind.”
ABOUT Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs and operates offshore wind farms, bioenergy plants and innovative waste-to-energy solutions and provides smart energy products to its customers. Headquartered in Denmark, Ørsted employs 5,600 people, including over 900 in the UK. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2017, the group’s revenue was DKK 59.5 billion (EUR 8.0 billion). For more information on Ørsted, visit orsted.co.uk or follow us on Facebook, LinkedIn, Instagram and Twitter.
For further information, see orsted.co.uk or follow us @OrstedUK on Twitter.<
