The Crown Estate – Offshore Wind Leasing update

 

 

Like something from the empire – and a tribute to the imaginative locations chosen by their events team – as the Crown Estate re- convened in the splendour of Cavendish Square on Monday for an update on Round 4 offshore wind leasing round.

The Crown Estate have listened to stakeholder feedback and chosen five favoured areas with which to proceed. Parameters have changed slightly but still favour fixed foundation designs

The supply chain is being made aware and links with a nascent industrial strategy and attendant sector deal the UK can outstrip both Denmark and Germany throughout the 2020s to become a global anchor.

Here are five my key takeaways:

·         Government recognises the success of the UK offshore wind industry and wishes this to continue with an appetite for more.

·         2. There will be 1-2 GW per year awarded throughout the 2020s.

·         3. Options will be 10 years and leases now 60 years recognising the improvements in equipment and helping investor confidence

·         4. Round 4 will offer 7 GW of rights and will be developer and project led – rather than zonal

·         5. Stakeholder engagement and consequent de-risking continues

So, its steady as she goes in London as they fleshed out details from their July session

A couple of things I expected to hear about. – but didn’t – were decommissioning expectations and the parallel process being carried out by their Edinburgh siblings. We watch with interest