Recent UK offshore wind auction didn't attract any bids, a setback for the country's green transition goals.
This September saw a record number of renewable energy capacity projects awarded with government funding in the U.K.’s biggest clean energy auction. Contracts were awarded for a total of 3.7 GW of solar power, onshore wind, and tidal power projects. However, there were no bids at all for offshore wind, putting a halt to the U.K.’s ambitious plans for the sector. This has been termed the biggest clean energy disaster in years by some energy experts.
In addition to the recent auction fiasco, the Swedish company Vattenfall announced in July that it was of its 1.4-GW Norfolk Boreas wind power project. It cited rising costs and difficult market conditions as the reason for its decision. The wind industry has experienced cost increases of up to 40 percent according to the company, making many players set their sights on options in more competitive markets.