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UK renewable auction clears as low as 58 pounds/MWH for offshore wind -Govt
September 11, 2017 / 7:07 AM / 3 months ago

UK renewable auction clears as low as 58 pounds/MWH for offshore wind -Govt

LONDON, Sept 11 (Reuters) - Britain’s auction for subsidies for renewable electricity cleared at a low of 58 pounds ($76.41) per megawatt hour (MWh) for offshore wind, the government said on Monday.

Projects owned by Germany’s Innogy Renewables and Britain’s SSE were among eleven winners of contracts which are worth up to 176 million pounds each year, it said.

The auction marks the first time the level of British subsidies for offshore wind power fell below the subsidies previously awarded for new nuclear projects.

$1 = 0.7591 pounds Reporting by Susanna Twidale, editing by Louise Heavens

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