Hogan Lovell OffshoreBook 2023 230809 OnlinePDF - Flipbook - Page 276
276
United Kingdom
In October 2020, the UK Government set
out further commitments10 to progress
towards net zero by 2050, including:
ded in the policy included:
• an increased target of 45GW of offshore wind energy by 2030;
• confirming offshore wind will produce
more than enough electricity to power
every home in the country by 2030,
based on current electricity usage;
• an increased target of 5GW of floating
offshore wind energy by 2030;
• a low-cost, net zero consistent electri• creating a new target for floating offshore wind to deliver 1GW of energy by
2030, which was over 15 times the current volumes worldwide. Building on
the strengths of the North Sea and the
Celtic Sea, this brand-new technology
allows wind farms to be built further
out to sea in deeper waters, boosting
capacity even further where winds are
strongest and is aimed to ensure that
the UK remains at the forefront of the
next generation of clean energy; and
city system, most likely to be composed predominantly of wind and solar
generation by 2050;
• halving planning and regulation time
for new offshore wind projects; and
• consulting on developing partnerships
for a number of onshore wind projects
for supportive communities, with associated benefits for local population.
ble the capacity of renewable energy
and providing enough clean, low-cost
energy to power up to 10 million
homes.
These updated policy commitments and
targets have been important in allowing the
UK market to continue to grow, with increased levels of ambition and a greater number
of significant development opportunities
being pursued.
These commitments were then revised
and updated in a new policy document
called the ‘British Energy Security Strategy’, which was developed in order to
help accelerate the UK’s development
as a low-carbon, energy independent
future.11 The revised commitments inclu-
(b) UK and the North Seas Energy
Cooperation (NSEC)
In December 2022, the UK signed an agreement on renewable energy cooperation with EU and North Seas countries.12
The agreement set out a framework for
greater cooperation between the UK
• setting a target to support up to dou-
10 https://www.gov.uk/government/news/new-plans-to-make-uk-world-leader-in-green-energy
11 https://commonslibrary.parliament.uk/research-briefings/cdp-2022-0128/#:~:text=What%20policies%20are%20in%20the,further%20utilise%20North%20Sea%20reserves
12 https://www.gov.uk/government/news/uk-signs-agreement-on-offshore-renewable-energy-cooperation#:~:text=The%20initiative%20
is%20expected%20to,8.4%20GW%20today%20%2D%20by%202030.
