Latest round of offshore wind gets the green light
The Crown Estate has today announced eagerly awaited information in relation to the tender process for the latest round of offshore windfarms (Round 3) at the British Wind Energy Association conference in London.
This information shows that the Government is firmly committed to its renewable targets and that it sees offshore wind as one of the front runners in its delivery.
The announcement marked a change in direction for the Crown Estate, indicating that it is willing to take on an element of the risk posed to developers by the substantial and sometimes prohibitive development costs involved in offshore wind.
Headlines from the announcement are:
- Expressions of interest will be invited from early August with draft legal documents released to interested parties in late September.
- The renewable energy target for 2020 was described by the Crown Estate as 'challenging and ambitious'.
- Joint partnerships of up to 50% will be offered to assist with the investment required by developers in the planning and consenting process.
Details are scarce at this stage. Further information on the process can be found in the Crown Estate's Round 3 briefing note.
An analysis covering this subject in more depth will follow once draft legal documents are released.
This alert may contain information of general interest about current legal issues, but does not give legal advice.