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Offshore Wind Energy Credits Extended
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.
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