Oil majors outbid incumbents, plan new UK offshore wind farms
08 February 2021 - 17:00
London — Oil majors agreed to pay a hefty premium to develop the next generation of major British offshore wind farms after BP and Total won contracts in an auction ahead of many of the utilities that have dominated the space until now.
The Crown Estate auctioned seabed rights that will allow about 8GW of new wind farms, enough to power more than 7-million homes. With oil majors taking a majority of the sites, it is a sign that green energy companies are facing a new era of competition for some of the world’s biggest renewable energy projects...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.