NewEnergyNews: The Offshore Wind Boom Is On

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    Friday, September 27, 2019

    The Offshore Wind Boom Is On

    The World’s Biggest Offshore Wind Farm Will Be as Cheap as Coal

    Will Mathis (w/Mikael Holtzer), September 20, 2019 (Bloomberg News)

    The world’s biggest offshore wind park planned off the coast of England will probably in the next decade generate power cheaper than by burning coal…The most recent U.K. offshore wind auction dropped the guaranteed price 31% to] 39.65 pounds per megawatt-hour ($49.70)…[Offshore wind was a niche technology more expensive than nuclear reactors a few years ago, but] is changing the economics of energy around the world…[Utilities and energy majors] are planning to spend $448 billion through 2030 on an eightfold capacity increase…

    Projects from developers including SSE Plc, Equinor ASA and Innogy SE won offshore wind power-purchase contracts that will have the capacity to generate as much as 5.5 gigawatts of power…[SSE-Equinor’s project off England’s east coast will be] the biggest single offshore wind park in the world…One of the winning areas, known as Dogger Bank, is off the coast of Yorkshire. Three projects by Equinor and SSE were approved in the zone for a total generation of 3.6 gigawatts. Another 1.4 gigawatt project developed by Innogy was also approved in the same area…The next U.K. auction, set to take place in 2021, is expected to] draw as much as 20 billion pounds of investment in offshore wind…” click here for more

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