U.K. Offers $1.3 Billion to Lift Offshore Wind Projects

GALWAY, IRELAND--March 27, 2024--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The U.K. government is hoping to spur investment in renewable energy projects by offering more than 1 billion pounds (US$1.3 billion) in financial support in its upcoming energy auction--four times more than the last auction in 2023.

Within this article: Details major boost in funding to attract renewable project investment in latest U.K. power auction, offshore wind to get most of the funding, failure of last auction to attract any offshore wind bidders