RenewableUK Comments on Round 4 Offshore Wind Leasing Process

Wind Industry Profile of

RenewableUK is responding to the results of The Crown Estate’s Invitation to Tender Stage 2 (ITT 2) process for the Offshore Wind Leasing Round 4.

The Crown Estate is making available six new areas of seabed to develop nearly 8 gigawatts (GW) of new offshore wind projects in the UK and the IIT 2 process has used an auction system to determine which companies will be allocated the option to develop these new sites. Companies were invited to submit bids for an ‘option fee’ for each of the available sites which will be paid annually until companies finalise their plans to build the new wind farms, up to a maximum of 10 years. This is the first time a bidding process to set ‘option fees’ has been used in the leasing process for offshore wind... ... More: Official Press Release RenewableUK

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RenewableUK, offshore, UK, leasing, round, Crown Estate, site, tender, process, gigawatts, develop, option fee