In order to ensure that the UK remains on track to meet its renewable energy obligation targets by 2020, the Department for Energy and Climate Change (DECC) has just announced that it has chosen sixteen renewable energy generation projects which are ‘provisionally affordable' in the Final Investment Decision Enabling for Renewables (FIDeR) process.
The Dudgeon Offshore Wind Farm is one of only four offshore wind farm projects to have reached this stage of the process, and it means that it could be supported through either investment contracts or the enduring Contracts for Difference (CfD) regime.
Commenting on the company's success in reaching this stage of the FIDeR process, Mr Halfdan Brustad, Chairman of Dudgeon Offshore Wind Limited, said: "This is excellent news, and an important step towards an internal final investment decision relating to the Dudgeon Offshore Wind Farm. This is currently scheduled for mid 2014."
"Assuming we are successful in the final selection of FIDeR projects, which is likely to take place in March 2014, a contract and a known Strike Price will help provide us, as a UK energy generator, with a sustainable and long-term basis for the significant investment needed to construct the Dudgeon Offshore Wind Farm. We will ensure that the projects benefits the UK as much as possible."