UK energy regulator, Ofgem, has appointed a consortium led by Ernest & Young Global Limited to run the GBP10 billion tenders for linking the North Sea’s offshore wind farms to the national grid. UK plans to expand the green energy capacity by 33 gigawatts, which would be enough to power about 10 million homes. The expansion of energy capacity would help UK in meeting its renewable energy targets for 2020. At present, the country has 3 gigawatts of wind capacity, including onshore wind farms.
Offshore wind will occupy a pivotal place in Britain’s low-carbon generation, Ofgem Chief Executive Alistair Buchanan, said.
We take very seriously the need to ensure that the networks are delivered on time and at a fair cost to customers.
A spokesman at Ofgem said that the tender should accelerate the pace of building new power networks and bring down costs.
Ofgem has said that tenders would be concluded in June 2010, with competitive tenders for between GBP500 million and GBP1 billion taking place afterwards.
The consortium includes also Royal Bank of Canada and Willis.