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US Secretary of Energy announces funding for offshore wind research

US Secretary of Energy Rick Perry announced US$18.5 million in new Department of Energy (DOE) funding for an offshore wind research and development (R&D) consortium that will conduct US-specific research aimed at reducing the cost of offshore wind in the USA.

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WindConnector could offer cost effective integrated grid infrastructure solution for offshore wind

TenneT and The Crown Estate joined forces to explore possible opportunities for further cost reduction in offshore wind through alternative grid connection infrastructure solutions. This led to the jointly commissioned study assessing the potential benefits of combining cross-border electricity interconnection with electrical infrastructure for offshore wind farms; a so-called ‘WindConnector’. 

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In 2016 the European wind industry contributed €36 billion to EU's GDP

The European wind industry contributed € 36 billion to the EU’s GDP in 2016, supports 263,000 jobs and generated €8bn of exports outside of Europe. These are the main findings of a new report, ‘Local Impact, Global Leadership’ carried out by Deloitte for WindEurope.

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Hedging emerges as potential solution for wind energy resource risk

By 2030 only 6% of Europe’s wind energy capacity will be unexposed to market risks through support schemes, down from 75% today. This means that the transition to auctions allocating renewable energy support comes with more exposure to price risk. One new way to address uncertainty on project revenues is hedging against volume risk. This is according to ‘The value of hedging,’ a new report published by WindEurope and Swiss Re Corporate Solutions.

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1000MW of onshore wind energy awarded in German auction

The Bundesnetzagentur has announced the results of the third auction for onshore wind energy in Germany. The auction was significantly oversubscribed: 210 bids totalling 2,591MW were submitted, while the total volume available was 1,000MW. The average volume-weighted price quoted in the bids in this auction was 4.02 cents per kilowatt hour (ct/kWh) and thus lower than the highest price accepted in the last auction of 4.29 ct/kWh.

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Global offshore wind momentum results in a modest upgrade to Make’s 10-year outlook

Innovation and advancements in cost-out measures continue to have a positive impact on the global offshore wind power sector. As traditional global onshore markets are challenged by policy transitions and saturation of developable resources, the offshore sector represents an important area of growth particularly in carbon-intensive markets.

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