New incentive launched by UK government
Companies seeking to develop offshore wind farms to serve the British grid network have been offered a new incentive by the UK government.
The price paid to generate electricity from offshore farms has been increased by 66 per cent in a move to encourage energy firms to invest.
The increase equates to a new price of £73 per Megawatt hour from the former level of £44.
The new incentive comes after a recent UK government auction for offshore wind projects failed to attract any bidders, with companies claiming the price set for electricity generated was too low.
It's thought the companies behind the planned Morgan and Mona wind farm projects in the Irish Sea, will welcome the news.
The wind farms are a joint venture between BP and German company EnBw.
The Morgan Field, which would be just 22kms from the Isle of Man would contain around 107 wind turbines and four offshore sub-station platforms.
The statutory consultation on their latest proposals closed on Sunday 4 June this year.