NYT: No Bidders in British Offshore Wind Auction
September 08, 2023 The British government’s latest auction for offshore wind energy contracts received no bids due to the minimum price support being too low for developers, amidst rising costs for all aspects of wind farm development. The opposition Labour Party and environmental groups criticized the outcome, with Labour’s energy spokesman Ed Miliband calling it an “absolute disaster.” The failure is a setback for the UK’s goal to triple offshore wind capacity by 2030 and may lead to increased costs for offshore wind power. Despite the auction’s failure, the British government did attract bids for onshore wind and solar projects. Analysts suggest that the government may need to revise future auction terms to accommodate the higher costs faced by developers and maintain progress toward renewable energy targets.