The UK’s renewable energy strategy has suffered a blow as no new offshore wind projects have been bought by developers at the latest Contracts for Difference (CfD) auction. 

Industry experts had warned that this might be the case after ministers refused to increase the maximum price for the auction despite a 40 per cent increase in the cost of manufacturing and installing turbines. 

The auction price led the three biggest offshore wind developers in the UK – SSE, ScottishPower and the Swedish company Vattenfall – to sit out the bidding. As a result, no energy companies submitted bids for offshore wind projects.

“This is a multibillion-pound lost opportunity to deliver low-cost energy for consumers and a wake-up call for government,” said Keith Anderson, chief executive of ScottishPower. 

“We all want the same thing – to get more secure, low-cost green offshore wind built in our waters. ScottishPower is in the business of building wind farms and our track...