Orsted has welcomed key elements of Germany’s planned 2.5GW North Sea offshore wind auction, including two-sided CfDs and renewable generation targets through 2045.
TotalEnergies reportedly plans to withdraw from several German offshore wind leases as rising construction costs and slower grid expansion weigh on project economics.
The Low Carbon Contracts Company has terminated the CfD for Hexicon’s 32 MW TwinHub floating offshore wind project off Cornwall, after the developer secured the contract in Allocation Round 4 in 2022.
The UK’s offshore wind industry warns that the £1.4 billion AR7 budget is too small to meet the 2030 target and sustain long-term investment.
