Dudgeon Offshore Wind Farm (DOW) prequalified for FID enabling
Department of Energy and Climate Change (DECC) confirmed today that Dudgeon Offshore Wind (DOW), along with 15 other projects, has reached the next stage of Final Investment Decision Enabling for Renewables (FIDeR) process, which could be supported either through investment contracts or the enduring Contracts for Difference (CfD) regime.
"We are pleased that DECC is keeping to its planned schedule regarding the Investment Enabling process and that the Dudgeon project has been invited to continue in this process. Dudgeon is now in a critical decision phase. Concept selection is imminent and final investment decision is expected next summer. We look forward to reviewing the final contract terms when they are published later this year," said Halfdan Brustad, Chairman of the Dudgeon Offshore Wind Board of Directors. Production (about 400 MW, enough for about 400.000 homes) is planned for the first quarter of 2017.
He added: "We welcome the government’s announcement that more flexibility regarding capacity adjustment will be allowed from the initial award of a Contract for Difference until final concept selection. This gives the industry the incentive it needs to continue to optimize development concepts and bring down costs."
The proposed rules for phasing of projects will enable the industry to improve planning of large new developments. As regards the proposed strike prices, DOW shares the government’s ambition that offshore wind must be made more affordable. DOW is committed to working with the supply industry to bring down costs. However, in order to meet ambitious cost targets, a larger industrial base is needed and this takes time to establish. DECC’s proposal acknowledges this.
For the DECC press release click here
For further information please contact:
Morten Eek Dudgeon Offshore Wind Farm project T:+47 416 89515 E: meek@statoil.com
or
Nigel Tompkins [the Norfolk contact for media and community enquiries]. New Ideas for Business T: 01263 822427 M: 07860 206565
E: nigel@ni4b.co.uk
Issue date: 04-12-13