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Forthwind cancels CfD, eyes opportunities in upcoming allocation round

By: Chloe Emanuel 08/04/2024 Forthwind

Corporate General Windfarms

Forthwind, a subsidy of Cierco Limited, updated the LCCC register to confirm the cancellation of its Contract for Difference (CfD) on April 4th. Two months before the cancellation the project submitted for a variation which would allow the project to utilise larger turbines. The variation is awaiting approval.

The project, initially awarded support for 12 MW in Allocation Round 3 (AR3) in 2019, has decided to forego its CfD, potentially positioning itself to participate in Allocation Round 6 (AR6). After exiting a CfD a project is banned from entering the next two Allocation Rounds, which allows the project to bid in AR6. With AR6 currently accepting applications, Forthwind could seize an opportunity to revisit its strategy and leverage the evolving landscape of renewable energy incentives.

Additionally, Forthwind could be considering entering into a Corporate Power Purchase Agreement (cPPA), further demonstrating its commitment to sustainable energy solutions and exploring diverse financing models.

For more information about offshore wind farm projects across the globe, click here.

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Forthwind cancels CfD, eyes opportunities in upcoming allocation round

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