A record 14 offshore wind projects are eligible for the upcoming contract for difference (CFD) auction, potentially adding nearly 10.3GW of new capacity to the UK’s energy grid.

CFD auctions invite companies to bid to develop UK-based renewable energy projects. As part of the deal, they receive a guaranteed price from the UK government for the electricity they will generate.

In its report EnergyPulse Insights: offshore wind October 2023, industry body RenewableUK said the upcoming auction this summer could set a new record for additional capacity. Last year’s auction was labelled a “disaster” after no new projects submitted bids as the price for energy generated was deemed too low.

The rectify the situation, the UK raised the price it would pay for offshore wind energy by 66%, as well offering additional funds from 2025 for projects that can demonstrate they reduced carbon emissions in their supply chains.

The report found that the upcoming auction alone has the potential to double the...