|Policy Type:||Economic Instruments>Fiscal/financial incentives>Grants and subsidies|
|Size of Plant Targeted:||Large|
|Agency:||Department of Energy and Climate Change (DECC)|
|Funding:||GBP107 million in capital grants|
DTIs Capital Grants Scheme seeks to stimulate early deployment of offshore wind. Support for these projects is targeted so as to help reduce both the costs and risks involved in offshore wind developments, and hence to maximise the contribution to the governments targets for renewable electricity supply. As such, the government will seek to ensure swift completion, making output from these projects available for electricity suppliers to respect their renewable obligation.
The primary aim is to stimulate early development of a significant number of offshore wind farms providing a learning experience which will increase confidence and reduce future costs. All three rounds of the current scheme were completed in November 2003 and a total of 12 projects have been funded to a total value of GBP117m. The first of those projects North Hoyle, Wales was commissioned in December 2003. A second 60MW project at Scroby Sands, East England, was commissioned in December 2004.
|Related policies:||Bio-energy Capital Grants Scheme|
|This record supersedes:||New Opportunities Fund - Financing Renewable Energy in the UK|
For more deatails on the UK Offshore Wind Capital Grant Scheme please, click here.
Last modified: Fri, 12 Dec 2014 16:52:30 CET