Government announces incentives for offshore wind

On the first day of COP29, the prime minister has announced that the UK will lead the world in the pro-growth clean energy transition.

Offshore wind developers are set to be incentivised to invest in the UK’s historic industrial heartlands, coastal areas and oil and gas communities, and in turn boost green jobs, and support sustainable factories.  

The Clean Industry Bonus will come with a provisional £27 million per Gigawatt of offshore wind projects.

Prime Minister Keir Starmer said: “Our mission to make Britain a clean energy superpower will fire up our industrial heartlands and break down barriers to growth in our hard-working towns and cities.  

“It will strengthen our national security - protecting our children and grandchildren from the climate crisis, and impact this will have on their future prosperity.

“By acting decisively and early, the UK has an opportunity to lead the world in the industries of the future — working in partnership with business — creating real energy security, cutting energy bills and building jobs and supply chains in the UK.

“But we can’t move alone - and at COP I will lead efforts to protect Britain from climate change by also working with other countries to accelerate the global clean transition to tackle the causes at its root.”