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Denmark's DONG has won a contract to build the world's largest offshore wind farm

26 September 2017
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Authors: ReutersStaff

DONG said the guaranteed price for the power it will supply was set at a 57.50 pounds per megawatt hour (MWh), 50 percent lower than the allocations at auction two years ago.

Cumulative installed wind capacity

Image: REWE

As part of reforms to its electricity market, Britain replaced direct subsidies for renewable power with a contracts-for-difference (CfD) system.

Under the scheme, qualifying projects are guaranteed a minimum price at which they can sell electricity and renewable power generators bid for CfD contracts in a round of auctions.

DONG is already building the Hornsea 1 project wind farm project, with capacity for 1.2 GW. That project was guaranteed a price of 140 pounds per MWh in 2014.

“Hornsea Project 2 will contribute significantly to DONG Energy’s ambition of reaching a total offshore wind capacity of 11-12GW by 2025,” DONG said in a statement.

With the addition of the second phase, the Hornsea project will become the world’s largest offshore wind farm.

Source:http://weforum.org

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