Experts say Ed Miliband's 1.1bn for new offshore wind projects not enough

"The energy secretary, Ed Miliband, has set aside 1.1bn a year for offshore wind power developers investing in new projects in a funding round seen by some in the industry as too small to meet the UK's green electricity targets. The government's energy department said today it had budgeted 900m to pay developers of fixed wind turbines at sea and 180m for floating platforms."

"Some energy industry experts raised questions over whether the budget would allow for enough generation to keep the UK on track for decarbonising electricity generation by 2030. One said they had expected a budget as high as 2bn to hit the target. RenewableUK, an industry lobby group, said the budget would cover only about a quarter of the 20 gigawatts of projects that have planning permission and would be eligible."

"Government sources have previously said ministers might consider abandoning the 2030 target long seen as hugely ambitious by experts if it were to add too much to household bills. Renewables provided about half of the UK's electricity during 2024, with wind accounting for 30% of generation for the first time overtaking gas power stations. Further huge investments in wind and solar would be necessary to meet the target of completely removing carbon emissions from British electricity supplies by 2030."

The government budgeted 1.1bn a year for offshore wind, splitting 900m for fixed turbines and 180m for floating platforms. Industry experts questioned whether that funding will produce enough generation to meet the 2030 decarbonisation target, with some expecting as much as 2bn. RenewableUK warned the budget would cover only about a quarter of eligible projects with planning permission. Renewables supplied about half of UK electricity in 2024 and wind reached 30% generation for the first time. Ministers face political opposition and concerns over household bills, while the government said the initial budget shows Treasury backing and bids will be invited from major developers.

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