UK holds USD 25bn offshore wind farm auction

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For the first time in a decade, the UK has launched a major auction of offshore wind farm leases. The auction is timely for many prospective European energy companies, who are under increasing pressure from shareholders to improve their green credentials.

The potential generating capacity of the leases amounts to 7GW, or enough to power 6-7 million homes. The UK currently has around 8.5GW of installed wind capacity, with an industry...