UK Offshore Wind at 'Tipping Point' as Funding Crisis Threatens Industry

Britain faces being left with no hope of meeting its crucial climate crisis goals and losing its status as a world leader in offshore wind energy without an urgent overhaul of government support, ministers are being warned. From a report: The sudden halting of one of the country's biggest offshore windfarm projects last month could signal a "tipping point" in the construction of new sites unless ministers intervene, a number of senior energy industry figures told the Observer. They warn that a swathe of new projects, which Britain is relying on to meet key climate targets, could also become economically unviable under the existing regime. While the industry has been hit by huge price inflationary pressures, it warns that the government has failed to adjust the scheme that guarantees the price it is paid for energy. "If the government doesn't do something, there's a very real risk that, come September, just before party conferences, the story won't just be about getting rid of the 'green crap' -- it'll be about failing to deliver on the projects they've already said that they wanted," said one industry insider.

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