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MD ScottishPower renewables "offshore wind £90/MWh by 2023"

By: Sue Crothers 04/03/2015 4C Offshore

General Windfarms

During his presentation at the SNS Conference in Norwich today, Johnathan Cole, Managing Director of Scottish Power Renewables, developers of East Anglia 1 (EA1) suggested that the cost of offshore wind was falling faster that predicted. His comments were made following the recent success of East Anglia 1 in being awarded a Contract for Difference (CfD). He stated that a price of less than £100/MWh was achievable by 2020 and possibly £90/MWh by 2023.

He also stated that the success of East Anglia 1 was important for the Southern North Sea as there was a large pipeline of projects all in areas with similar local conditions offering the opportunity for standardisation, which would help to drive down costs.

East Anglia 1 is expected to reach Final Investment Decision in Q1 2016 with onshore construction starting in 2017 and offshore construction in 2018. First power generation is forecast to begin in 2019. Decisions will be made soon on turbine, ports and foundations.

East Anglia 1 will be running events in the East of England region to engage in the supply chain, possibly in association with EEEGr, organisers of the SNS conference.

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MD ScottishPower renewables "offshore wind £90/MWh by 2023"

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