Low Bid Prices and High Community Participation at Germany's First Onshore Auction
The German Federal Network Agency announced the results of the first round of onshore wind power auctions in Germany, with 70 projects awarded for a total capacity volume of 807MW at an average bid price of 57.1 EUR/MWh. 96% of the awarded volume comes from community projects. While high participation and substantial cost reduction portray a positive outcome, project execution is key to determining the overall success of the tender.
US Offshore Wind Momentum Builds Foundation for the Future
The recent flurry of announcements pertaining to offshore wind in the US points to increasing stability in the market. Several states in the Northeast have committed to offshore development yet it remains to be seen if other states will follow suit. In order for the US offshore sector to succeed, challenges in policy must be successfully navigated and the levelized cost of energy must come down over the next decade.