- The UK will provide £160m for floating wind development.
- The UK plans to deploy 1GW of floating wind capacity by 2030.
The UK government has stated that it would provide up to £160 million ($221m) to support the development of new large-scale floating offshore wind ports and factories in the country. The UK Prime Minister Boris Johnson announced this at the recently held G20 summit in Italy. The UK Government has a target of deploying 1GW of floating offshore wind by 2030.
This allocation will allow developers and manufacturers to bid for a portion of the funding to launch projects. The UK Business and Energy Secretary Kwasi Kwarteng stated, “This investment will help attract further private sector backing to boost our industrial heartlands. It will create and support thousands of good quality jobs, ensuring they remain at the forefront of the next generation of clean energy as we build back greener.”
The government’s upcoming contracts for difference (CfD) round is set to provide £24 million for floating offshore wind and £200 million for offshore wind projects.