ORE Catapult responds to Contracts for Difference Allocation Round 5 results
Following the publication today (Friday) of the Contracts for Difference (CfD) Allocation Round 5 results, Andrew Jamieson, Chief Executive at the Offshore Renewable Energy (ORE) Catapult, said:
“Offshore wind remains the UK’s principal low carbon energy generation source for hitting our net zero targets, as well as one of the cheapest forms of electricity, but the industry has signposted for many months that cost pressures create serious challenges in meeting the necessary deployment targets. Today’s AR5 announcement provides further evidence that continuous pressure to deliver lower and lower prices is not sustainable in the face of escalating costs. It is now imperative that all parties work together to address the challenges facing the future deployment of the technology, such as grid infrastructure, consenting timelines, port facilities, and more.
“At the heart of this work has to be a focus on innovation to overcome these barriers to deployment and enable the continued development of both fixed and floating offshore wind technologies, and the continued growth of the UK’s world-leading offshore wind industry and its supply chain.”