www.bloomberg.com
Despite rising costs, the UK government is ramping up support for offshore wind farms to meet its 2030 clean energy target. To encourage investment, ministers are increasing subsidies and adjusting inflation-linked indices. While higher turbine prices and rising interest rates have stalled some projects, the government remains committed to the sector, viewing it as crucial for national energy security and achieving net-zero emissions by 2035. The goal is to secure sufficient capacity at upcoming auctions to ensure expansion continues despite current market challenges.
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