will mean just one out of three viable floating offshore wind projects will be realised, prompting fears that the UK is in danger of stifling investment in a major growth sector., and has prompted concerns that ministers are showing a lack of ambition when it comes to developing offshore wind farms.
Alan Hannah, managing director of Copenhagen Infrastructure Partners, which specialises in offshore wind, told: “The AR6 budget is currently unlikely to secure progress for more than one floating wind project, denting investor confidence and commitment to development expenditure at precisely the moment the industry needs to accelerate.
“The best way for the UK to maximise the benefits from floating offshore wind is through increased support for the development of the sector, and by allowing multiple projects to progress towards final delivery.” Labour leader Sir Keir Starmer visited Wales to set out the party’s clean energy plans, claiming the potential for offshore wind off the Welsh coast is “enormous”, but warned the Government risked “squandering it”.