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Energy: Net zero

Energy: Net zero | 33

Under the sea: the potential of floating offshore wind

Neil Mearns Senior Writer

The floating offshore wind (FOW) sector is a fast-maturing one that has the potential to augment the energy transition and contribute to net zero targets. In the Energy Perspective, we appraise the technology and offer insight into policy and market drivers in the UK and abroad. Full time to floatin’ Discussion around FOW has certainly stepped up in the last few months in the government. Starting from the end of last year, the Conservative Party said it would “enable new floating wind farms” in its 2019 Election Manifesto. This also outlined the broader sectoral commitment of reaching 40GW of offshore wind capacity by 2030. BEIS subsequently revealed that it is consulting on creating a separate definition for FOW in its consultation on the CfD scheme on 2 March. It is proposing that FOW is classified as a separate technology with a distinct administrative strike price, so that projects may compete in future auctions for ‘less established’ technologies (known as ‘Pot 2’). The government intends to run an allocation round in 2021 for all eligible technologies. This consultation ended on 29 May, with the results pending. BEIS then launched a consultation to assess the potential of marine energy (including FOW) off the British coast on 28 August. The call for evidence is intended to feed into the anticipated Energy White Paper, now expected by the end of the year, and will build on the CfD consultation. This includes how to support emerging renewable technologies that are still in a precommercial stage ...

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