Is UK CfD AR6 due for a major budget increase?

July 25, 2024
 | 
2 min read
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With a late addition of the 560 MW Green Volt floating wind project: Is UK CfD AR6 due for a major budget increase for floating wind?

On 4 July, the UK elected a new government led by the Labour Party in the midst of the sixth Contract-for-Difference Allocation Round with a timely opportunity to revise the budget for the support scheme, starting from tomorrow, 26 July, until 1 August.

With the 560 MW Green Volt project, developed by Vårgrønn and Flotation Energy, receiving necessary consent just before the application deadline, the competition amongst the eligible floating projects changed and the industry is now looking to Labour with anticipation.

Will they increase the budget and give floating offshore wind a boost in line with political ambitions?

In Aegir's latest Market Insights report, clients can dive into the implications of Green Volt's potential participation in the upcoming AR6 and get access to our analysis on the budget increase needed to support the first commercial-scale floating project in the UK as well as the entire pipeline of eligible floating projects in AR6.

Reach out to us to learn more about our analysis.

Market Insights reports

Aegir Insights' Market Insights are short, stand-alone pieces with key information about significant events in a market. The events may be auctions, policy shifts, supply chain developments and more. They are quick reads, designed to give readers more context around and understanding of an event than a regular news article would while remaining easily digestible.

To learn more about our offshore wind intelligence offerings, reach out to us or browse our solutions.

Aegir Insights' floating wind intelligence

To gain more insights into developments in the floating wind sector, have a look at our previously published analysis, recapping what has happened in 2023 in floating, how its commercialization is likely to progress towards 2035, and if the sector should re-baseline its expectations on build-out and costs in the next decades.

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CVR no.: 39104792

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