Hornsea 3 & 4 secured in bumper CfD round  

It’s claimed the new Contracts for Difference (CfD) round will deliver enough green electricity to power 11 million homes. Alongside the big ticket announcements for the Hornsea projects off the Yorkshire coast, the round also included six new tidal projects, a combined 115 onshore wind and solar projects, plus funding for Green Volt, the largest floating offshore wind project in the world to reach market. 

This latest CfD auction is being heralded as a major win for the new Labour government and its ambitious green energy policies, having set itself a target of decarbonising the British grid by 2030. It comes on the heels of what was described as a disastrous renewables auction in 2023 under the previous government, where no new deals were agreed for offshore wind and a total of just 92 projects had funding secured. Following the July general election, Labour promised to boost funding for the 2024 auction by 50 per cent to £1.5bn.