It has been a good financial week for renewable energy with the European Union agreeing to fund 7.2 billion euros for tackling global warming at Copenhagen. Also this week, the UK Government announced further financial help for offshore wind. Thursday’s pre-budget report proposed an extension to the time limit on double credits for offshore wind energy projects.
Offshore wind energy projects operational before 2014 will recieve 2 renewable obligation certificates (ROCs) rather than the 1 ROC onshore wind energy recieves.
The British Wind Energy Association (BWEA) welcomed Chancellor Alistair Darling’s Pre-Budget Report commitment to maintain support for offshore wind energy at 2 ROCs per megawatt hour (MWh) to 2014. The UK is the world leader in offshore wind with more projects installed, in planning and in construction than any other country in the world. The BWEA anticipate that by 2020 at least 20,000MW of offshore wind will be installed and operating in UK waters.
Maria McCaffery MBE, BWEA Chief Executive said: “Keeping the 2 ROCs funding for offshore wind will help the UK retain its world lead and kickstart billions of pounds of investment ahead of the next major phase of offshore developments.”
Financial support for offshore wind was increased from 1.5 to 2 ROCs in the 2009 Budget in April for proposals which had commenced construction. The announcement this week will extend 2 ROCs for all projects operational by 2014. The BWEA say that the wind energy sector could deliver 60 000 jobs and 30% of our electricity by 2020.
“There are up to 3000MW worth of projects which should now benefit from this new support – in the current economic climate this will make a vital contribution to inward investment and employment, as well as delivering on the 2020 targets.” said McCaffery.
