LONDON, Jan 17 — BP, Shell and utility Iberdrola were among the winners of seabed rights to develop Scottish offshore wind projects, in an auction which raised nearly £700 million for public spending.as governments and investors have woken up to the urgency of cutting carbon emissions, with oil majors making high bids.
A gigawatt equates to roughly two coal-fired power plants and is enough to power 750,000 homes in Britain, where the overall power demand can be between 20-47 GW per day, depending on the season. Around 35 per cent of the country’s electricity generation is already generated from renewables. The biggest winner was Scottish Power Renewables, which has the go-ahead for projects totalling seven gigawatts .
But should any application not progress to signing a full agreement, the next highest scoring application will instead be offered an option. A joint venture between BP and Germany’s EnBW were successful in bid for a 2.9 GW wind project which BP previously said would result in 10 billion pounds of total investment.
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