Race Bank fails to get government backing

UK: Centrica's 580MW Race Bank offshore wind project, in England's North Sea, has failed to qualify for investment contracts from the UK government.

Centrica's Race Bank failed to get government support

The Department of Energy and Climate Change’s (Decc's) "final investment decision enabling for renewables" (Fider) process was designed to enable developers to take final investment decisions ahead of the contract for difference (CfD) regime taking effect as part of the UK's electricity market reform.

Twenty-six renewable energy projects applied to Phase 2 of the Fider process where they were assessed for their technical and financial viability.

Yesterday Decc announced 16 projects, including seven offshore project, have reached the next stage of Fider, which could be supported either through investment contracts or the CfD regime.

Race Bank, which lies 75 kilometres from the coast off Blakeney Point, Norfolk, and Chapel St Leonards, Lincolnshire, was not among them.

In response, Centrica said it planned "to work with Decc" to understand why the project did not meet the criteria. 

The seven offshore wind sites totalling more than 7.7GW that made it through to the next round include Dong Energy’s 4GW Hornsea project, Mainstream Renewable Power’s 450MW Neart na Gaoithe project and the 1GW Beatrice offshore wind farm.

Decc launched Fider in March 2013 and applications for participation closed on 1 July.