Seven UK’s OW Projects Get Draft Investment Contracts

At the beginning of this month, the UK’s Department of Energy and Climate Change (DECC) published a list of 16 renewable energy projects which achieved the Phase 2 minimum threshold evaluation criteria.

All applicants that met the Phase 2 evaluation criteria were sent draft investment contracts on 19 December 2013 and were invited to submit binding applications, confirming that they wish to apply for an investment contract by March 2014.

Final applications will be assessed in spring 2014. This will decide which projects will be offered investment contracts.

Ten projects have been told that they are provisionally affordable under the budget caps announced on 4 December, but all are able to remain in the process until it is completed, and contracts are awarded, in spring 2014.

The following seven offshore wind proposals have made it to the list: Beatrice Offshore Wind Farm, Burbo Bank Offshore Wind Farm, Hornsea Offshore Wind Farm, Walney Extension Offshore Wind Farm, Dudgeon Offshore Wind Farm, Inch Cape Offshore Wind Farm, and Neart na Gaoithe Offshore Wind Farm.

DECC’s Final Investment Decision Enabling for Renewables (FIDER) aims to help developers of renewable energy projects make final investment decisions ahead of the Contract for Difference (CfD) regime being put in place as part of Electricity Market Reform.

_____________________________________________________

Offshore WIND Staff, December 30, 2013; Image: DONG Energy