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Gone with the wind: UK losing grip on offshore advantage?

In 2022, UK offshore wind farms generated enough energy to power 41% of the nation’s homes. The UK also lays claim to four of the world’s largest offshore wind farms. So it was a shock when, last week, the government’s annual auction for renewable energy projects ended with no new bids to develop offshore wind farms.  The news is especially concerning given the pledge for the UK to increase its 14GW to 50GW offshore wind by 2030. Meanwhile, China switched on the world's largest and most powerful wind turbine in July.  For the UK to continue to progress in wind power, the government needs to make offshore wind economically viable for developers.

The head of research and policy at GMB has expressed that “...ministers seem to be asleep at the wheel” and urged the government to adopt policies similar to Biden’s Inflation Reduction Act (IRA). The IRA connects contracts to jobs and has allocated $300 investment for energy and climate projects. Do the UK government need to do more to support renewable energy? 

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