offshore energy sector

By 2030, only half of the predicted £200 billion offshore sector investment will be committed to projects, trade association Offshore Energies UK (OEUK) has said.

The UK has a “once in a generation economic opportunity” to unlock £70 billion by becoming a “sustainability superpower”, says new report.

Ireland’s first Offshore Renewable Electricity Support Scheme (ORESS-1) auction has seen over 3GW awarded for offshore wind projects.

Trade association Energy UK has said that the upcoming Contracts for Difference (CfD) auction will fall short of delivering the required expansion of offshore wind to hit the government’s 2030 target.

The Department for Energy Security and Net Zero (DESNZ) has launched a consultation on legislative proposals for offshore hydrogen pipelines and storage.

Tim Pick, the UK’s first Offshore Wind Champion, has called on the UK government to mobilise investment in supply chains to reduce grid constraints and compete with the UK Inflation Reduction Act (IRA) and EU’s Green Deal Industrial Plan.

The UK’s offshore wind pipeline is set to reach 100GW in the coming months but has lost out on the top spot for installed capacity to China, according to RenewableUK.

The UK boasts the “largest offshore wind pipeline” according to EY Global however has lost the top rank for installed capacity to China.

The proposed 1GW Gwynt Glas Offshore Wind Farm has signed a memorandum of understanding (MoU) with Associated British Ports and the Port of Milford Haven to prepare the region for floating wind farms in the Celtic Sea.

Balancing offshore wind farm construction between the east and west coasts of the UK would strengthen the consistency of energy supply and help reduce reliance on balancing actions using fossil-fuelled dispatchable generation, said Regen in a new report.