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Energy UK responds RWE acquiring Vattenfall’s offshore wind projects

Responding to the news that RWE will acquire the UK Norfolk Offshore Wind Zone portfolio from Vattenfall, Energy UK’s Chief Executive, Emma Pinchbeck, said:
“It’s very welcome news that RWE has committed to pressing ahead with Vattenfall’s offshore wind projects and, following on from Ørsted’s announcement on Hornsea Three yesterday, it means the renewables sector is ending a challenging year on a positive note.
“Vattenfall’s decision to pause the Boreas project earlier this year was clearly a major concern as it highlighted the challenges developers have been facing with rising costs – at a time when global competition for clean investment has been intensifying.
“We urged the Government to act in response to an investment climate that had deteriorated significantly over the past year and stressed that by doing so quickly, they could keep investors and developers onboard to help deliver on the UK’s clean energy ambitions – and all the benefits these will bring.   
“Measures to encourage energy investment have featured in the Autumn Statement and elsewhere over recent weeks and, along with steps to help ensure the next offshore wind auction delivers what is needed, these have evidently already had a positive effect – so we trust this will encourage the Government to go further and faster in 2024.”