London Array Windfarm Subsidies Hit £300 Million Last Year
The 175-turbine London Array offshore wind farm was the largest in the world when it was built in 2013
According to its website:
its conception and construction attracted international attention, and paved the way for the current generation of even larger wind farms being built around Britain’s coastline. London Array continues to be at the forefront of innovation in the production of offshore renewable energy.
Located 20km off the north Kent coast in the Outer Thames Estuary, London Array has a 630MW capacity and generates enough clean electricity to power around 584,000 UK homes, while displacing around 900,000 tonnes of CO2 a year.
David Cameron said at the opening ceremony:
“This is a great day for Britain and a big win for renewable energy. London Array shows you can build large scale renewable energy projects right here in Britain. This is because when it comes to clean energy, the UK has one of the clearest investment climates globally.”
Neither Cameron or the London Array bothered to tell us just how much we would all have to pay for the privilege!
As a reminder, we have just had the Annual Accounts for Greencoat London Array Ltd, who own 25 percent of the wind farm:
Source: https://find-and-update.company-information.service.gov.uk/company/06638251/filing-history
In 2024, they received subsidies to the tune of £75.4 million, via ROCs. This was in addition to the revenue of £42.8 million from electricity sales.
The subsidy figure can, of course, be quadrupled, as Greencoat only own a quarter of the business.
At current prices, London Array has been paid £3.6 billion in subsidies since it opened in 2013.
And all for just two TWh a year, less than one percent of the electricity supplied in the UK.
See more here notalotofpeopleknowthat
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Header image: Wikipedia
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