UK Offshore Wind Power Market Update
About the report
"UK Offshore Wind Power Market Update" was authored by Deloitte UK, Deloitte China Energy, Resources & Industrials, the Wind Power Committee of the China Renewable Energy Society and China General Nuclear Power Group. The report analyzes the wind power market and offshore wind power policies in the UK and defines key phases of project development, providing deep insights into the UK offshore wind power that support Chinese companies' market entrance and promote cooperation between China and the UK.
Viewpoints / key findings
- UK power market is one of the world’s most liberalized markets in the world with sophisticated regulation schemes to support market efficiency and encourage competition.
- The openness and transparency of the UK power market has made it one of the most attractive destinations for overseas investors including strategic investors such as major utilities around the world as well as infrastructure funds and financiers.
- Similar to many other markets in Western Europe, the UK power market is going through a transition towards a cleaner energy mix. The UK will phase out coal-fired power plant by 2025 and offshore wind power is playing a growingly important role in the energy mix.
- For overseas investors who are interested in participating in the offshore wind market in the UK, getting to understand the UK power market and supports available to offshore wind generators are crucial.
- We will take you through the basics of the UK power market regulation and support schemes in this market update and hopefully will provide you with a more useful tool when making investment decisions in the offshore wind.