Report Excerpt - The 2014 Offshore Wind Programme Report

The Offshore Wind Programme Board has published its Annual Report for 2014. The report, part of the Cost Reduction Monitoring Framework, shows that the cost of offshore wind energy has fallen by almost 11% over the past four years. What’s more, the results show the offshore wind sector is ahead of schedule on its path to delivering the shared industry and UK Government target of a levelised cost of energy of £100 per megawatt hour for projects reaching final investment decision in 2020.

“The offshore wind sector is making very significant progress on driving down costs,” said Adam Bruce, industry co-chair of the Offshore Wind Programme. “The publication of the Cost Reduction Monitoring Framework Report, and the results of the first auction round for CfDs shows clearly that we are delivering on our commitment to the UK consumer. We’re already ahead of schedule on cost reduction, and we’re set to achieve our target of £100 per megawatt hour by 2020.”  

Alastair Dutton, strategic programme manager at The Crown Estate — and member of the Offshore Wind Programme Board — said this year’s OWPB report demonstrates how the offshore wind sector is “leading the way in industry collaboration to bring down costs and secure the material contribution that offshore wind can make to the UK’s energy mix over the long term.”

In its Annual Report, the Offshore Wind Programme Board reports on the following five priorities:

• Build a sustainable, competitive and capable UK supply chain – capitalising on investments to date and the strong pipeline of UK projects now in place, to further develop UK industrial capacity 
• Demonstrate that costs are falling 
• Create a skilled industry – developing and promoting offshore wind as a sector where skilled people can build careers, and making the most of the expertise developed to date 
• Address barriers to companies bringing new innovations to the market  
• Attract finance into the sector, including making best use of the Green Investment Bank.

The full 2014 Offshore Wind Programme Report is available online.

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