Britain’s offshore wind industry suffered a blow after ministers failed to heed warnings from some of the world’s biggest renewable energy developers that the annual auction was set too low to reflect their soaring costs. No energy companies submitted bids for offshore wind projects, the government confirmed on Friday morning.

The three biggest offshore wind developers in the UK – SSE, ScottishPower and the Swedish company Vattenfall – were forced to sit out the bidding after ministers refused to increase the maximum price for the auction despite a 40% increase in the cost of manufacturing and installing turbines because of inflation.

  • Cypher@lemmy.world
    link
    fedilink
    arrow-up
    2
    arrow-down
    1
    ·
    1 year ago

    because of inflation.

    It’s not an issue specific to renewables it is an issue with the broader economy.

    Or have you been living under a rock?