Contracts for Difference (CfD) auctions are no longer working well for the offshore wind sector and may need to be replaced with an alternative mechanism. The growing size of projects, which require developers to spend hundreds of millions of pounds on development without knowing whether they will go ahead, is reducing the attractiveness of the sector to international investors. This is one of the main findings in a new report authored by former energy minister Chris Skidmore and Renewable UK chief executive Dan McGrail.
‘One-size-fits-all’ CfD auctions no longer working for offshore wind
