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POWER: UK unveils £27M/GW Bonus for Offshore Wind

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 UK PM Keir Starmer announced a new Clean Industry Bonus at COP29, offering £27mn per GW of offshore wind capacity, with up to 8GW eligible for funding, according to the PM, cited by Renews.biz.

  • The plan targets investments in Scotland, Wales, and the Northeast and Northwest.
  • And if 7-8GW of eligible capacity applies to the budget could reach £200mn.
  • The bonus aims to foster cleaner energy industries in the UK and reward companies that choose lower-polluting suppliers.
  • Lobby group RenewableUK’s CEO Dan McGrail endorsed the bonus, noting that the right incentives could attract millions in new investment and boost employment in coastal towns.
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 UK PM Keir Starmer announced a new Clean Industry Bonus at COP29, offering £27mn per GW of offshore wind capacity, with up to 8GW eligible for funding, according to the PM, cited by Renews.biz.

  • The plan targets investments in Scotland, Wales, and the Northeast and Northwest.
  • And if 7-8GW of eligible capacity applies to the budget could reach £200mn.
  • The bonus aims to foster cleaner energy industries in the UK and reward companies that choose lower-polluting suppliers.
  • Lobby group RenewableUK’s CEO Dan McGrail endorsed the bonus, noting that the right incentives could attract millions in new investment and boost employment in coastal towns.