UK: Norstec Hails Visibility on Strike Price for Offshore Wind

Norstec, offshore renewables industry alliance for Europe’s northern seas, has welcomed visibility on strike price for offshore wind and Government’s call for industry to “get on with it”.

The next step will be for Government to publish wider detail around contracts when it publishes its Draft Delivery Plan in July 2013. This enabling framework is needed to seal the deal.

Norstec Chairman Julian Brown said: “We welcome the progress made in the EMR with the announcement of initial strike prices. This information is an important piece of the jigsaw in financial planning of offshore wind projects by the developers. Giving developers and their investors confidence is a prerequisite for the roll out of Round 3 and the next generation of offshore wind. The UK is leading the way in Europe in developing offshore wind, so other countries are going to be watching today’s announcements carefully.”

Responding to Danny Alexander’s call for industry to “get on with it”, Julian commented: “That’s exactly what industry wants to do. As a sector we are aligned in our desire to drive new projects forwards. This will be what drives down the cost and makes offshore wind a leading European electricity generator, and helps Europe be a world leading low carbon economy.”

[mappress]

Press release, June 28, 2013; Image: nrdc