Britain's Bold Offshore Wind Bid: Clean Industry Bonus Launched

Britain unveiled a new incentive scheme for offshore wind, aiming to attract investment and decarbonize its energy system by 2030. The 'Clean Industry Bonus' offers 27 million pounds per gigawatt of offshore wind capacity. The initiative supports the country's ambitious plan to increase wind capacity significantly by decade's end.

On Thursday, Britain launched a new incentive scheme aimed at boosting its offshore wind sector. Dubbed the 'Clean Industry Bonus', the scheme seeks to attract investment by offering 27 million pounds for each gigawatt of offshore wind capacity developed.

The initiative is a core part of Britain's 2030 clean energy strategy, with the country planning to expand its current wind power capacity from 15 GW to between 43 and 50 GW by the end of the decade. The national grid operator views the government's plan to generate 95% clean power as challenging, but feasible.

This bonus scheme is designed to address potential challenges in meeting those goals by rewarding developers committed to creating the necessary supply chain infrastructure. A new round of renewable energy auctions, providing government-backed price guarantees, will occur later this year, with new funding distributed through these contracts.

(With inputs from agencies.)