February 8, 2021 Read More →

RWE, BP big winners in latest U.K. offshore wind auction

Reuters:

RWE, BP and Total were among winners in Britain’s first major auction of offshore wind farm leases in more than a decade, British authorities said on Monday.

Countries across the globe are racing to build up green power in order to slow global warming in line with the Paris climate accord. Britain plans to generate a third of its electricity from offshore wind by 2030 as part of its own efforts to reach net zero carbon emissions by 2050.

A total of six projects, representing just under 8 gigawatts (GW) of capacity, were successful in the auction. If built, they could provide enough electricity to power about 7 million homes, said the Crown Estate, which is responsible for waters around England and Wales.

BP, in its first move into Britain’s offshore wind market, won two sites representing a total of 3 GW jointly with German regional utility EnBW, paying more than bidders for other areas in what Bernstein analysts called a “highly contested race”.

RWE, Germany’s largest power producer and Europe’s third-largest renewables firm after Iberdrola and Enel, was confirmed as preferred bidder for two sites with total potential capacity of 3 GW.

A venture of French oil major Total and Macquarie’s Green Investment Group secured the rights to a 1.5 GW project off Britain’s East Anglian coast.

[Susanna Twidale]

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