The UK is in danger of becoming the Nigeria of wind, writes gfhay
may look at the seemingly puny after-tax equity returns available from this year’s Allocation Round 5 auction, which FTI Consulting estimates at below 7%, and instead just sit the whole process out.
Britain can still be the Saudi Arabia of wind. But right now, it risks looking more like Saudi’s fellow OPEC member , where internal strife and lack of support have seen it fail even to reach output restrictions imposed by the producer club. That would be an epic missed opportunity.Vattenfall is stopping the development of its 1.4 gigawatt Norfolk Boreas offshore wind project off the coast of Britain, the state-owned Swedish utility said on July 20.The project won a contract-for-difference in an auction last year, guaranteeing a minimum price of 37.
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