In a recent interview with Reuters, Britain's Minister for Energy Security and Net Zero, Graham Stuart, expressed confidence in the country's ability to achieve its offshore wind deployment target by 2030, despite a setback in a recent auction.
The ambitious goal aims to increase offshore wind capacity to 50 gigawatts (GW) by 2030, up from the current 15 GW. Stuart emphasized the significance of this target, stating, “It's challenging. We set it as an ambition… four times higher than the budget we set last time and of course the budget can also be increased.”
Although the specifics of the upcoming auction's capacity allocation remain undisclosed, Stuart affirmed that the 2030 offshore wind goal remains attainable. He pointed out that the government's commitment to renewable energy remains steadfast, demonstrated by the announcement that the next auction to incentivize renewable power projects will exceed 1 billion pounds.
Despite uncertainties stemming from factors such as elections and rising living costs, Stuart assured that the government is dedicated to meeting its climate targets and achieving net zero emissions by mid-century. Concerns about competitive disadvantages due to varying climate regulations across countries have prompted industry lobbying for measures like a carbon border adjustment mechanism (CBAM).
Regarding the proposed CBAM, Stuart noted the importance of thorough analysis, stating, “We want to make sure we do the analysis and get it right. We can learn from the EU experience and then ensure our CBAM is as well constituted as possible.”
The government's consultation on the carbon border adjustment mechanism indicates a proactive approach to address concerns raised by sectors like steel, which advocate for alignment with the EU's timeline for implementation.
