UK offshore wind power market could get bigger

London

THE world's biggest offshore wind-power market may be about to get even bigger as three companies decide whether they'll commit 7.5 billion euros (S$11.7 billion) to raise the UK's installed offshore capacity by more than a third.

Mainstream Renewable Power Ltd, Scottish Power Ltd and an SSE plc-led consortium have until the end of March to reach final investment decisions allowing them to tap UK government subsidies letting them install more than 1.7 gigawatts of new capacity. Scottish Power's East Anglia One will need 3.1 billion euros investment, according to Bloomberg New Energy Finance, which also estimated that Mainstream's Neart na Gaoithe and SSE's Beatrice Offshore Wind Farm will cost 1.9 billion euros and 2.5 billion euros, respectively.