Orsted and Vattenfall Get UK Offshore Wind Energy Contracts
By Dominic Chopping
Danish renewable-energy company Orsted AS and Swedish
state-owned utility group Vattenfall Group AB said Thursday they
have been awarded low-carbon power contracts from the U.K.
government's Contracts for Difference program.
Contracts for Difference pay a flat, indexed rate for
electricity produced over a period of up to 15 years and aim to
encourage investment in renewable energy by providing developers
protection from volatile wholesale prices.
Orsted's award relates to its Hornsea 3 U.K. offshore wind farm
and Vattenfall's relates to the Norfolk Boreas offshore wind
The awards are part of the U.K.'s fourth contract-for-difference
Write to Dominic Chopping at email@example.com
(END) Dow Jones Newswires
July 07, 2022 05:33 ET (09:33 GMT)
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