BP Plans To Build First Subsidy-Free Offshore Wind Farms ...Middle East

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BP Plans To Build First Subsidy-Free Offshore Wind Farms
source : OILPRICE ( Middle East ) () 26
BP plans to build two offshore wind farms in the Irish Sea without entering government schemes for support, The Times reported on Monday, in what could be the first subsidy-free offshore wind projects ever. The energy supermajor, which has recently doubled down on oil and gas as the world needs all forms of energy, doesn’t plan to submit bids for the so-called contracts for difference (CfD) process of the UK government for the two projects, which could power 3.4 million UK homes. Under those contracts, the power generators are paid a predetermined…

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