Offshore wind farm subsidies at record low

The cost of subsidies for new offshore wind farms has fallen to record lows in the latest round of contracts being awarded for clean energy projects.Subsidies have fallen 50% since the last auction in 2015, with firms saying they were willing to build offshore wind farms for a subsidy of as little as £57.50 per megawatt hour for 2022-23.The cost for projects delivered in 2021/22 was £74.75 per megawatt hour (MWh).