Net Zero Watch brands new windfarm subsidy ‘obscene’
APRIL 29, 2024
tags: wind power
By Paul Homewood
The logic of floating wind farms is that they can operate in much deeper waters, thus accessing stronger winds. The corollary is therefore that they should provide cheaper power.
Net Zero Watch brands new windfarm subsidy ‘obscene’
Green Volt project could be handed annual half billion pound subsidy
Net Zero Watch has revealed the astonishing scale of subsidies likely to be received by a windfarm planned for Scottish waters. The Green Volt floating offshore windfarm could hand its backers around £500 million pounds per year in subsidies. The project received official approval from Marine Scotland last week.
Because it is a floating windfarm, it is eligible for a much higher level of subsidies than fixed-bottom or onshore windfarms. At the launch of the most recent subsidy auction, the Government announced that it had raised the maximum price for floating windfarms to around £240 per megawatt hour [1], around four times current market prices. If the whole windfarm is subsidised at this level, consumers will probably have to pay more than £500 million per year in subsidy [2].
https://notalotofpeopleknowthat.wordpress.com/2024/04/29/net-zero-watch-brands-new-windfarm-subsidy-obscene/
