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Home > Headlines > Britain announces $1.45 billion budget for offshore wind auction

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Britain announces $1.45 billion budget for offshore wind auction

Published by Global Banking and Finance Review

Posted on October 27, 2025

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LONDON (Reuters) -Britain's next auction round to spur investment in renewable power capacity will have a budget of 1.080 billion pounds ($1.45 billion) for offshore wind projects, government documents released on Monday showed.

The country has put offshore wind at the heart of its plans to decarbonise its electricity sector by 2030. It aims to boost capacity to 43-50 gigawatts (GW) by the end of the decade, from around 15 GW currently.

($1 = 0.7451 pounds)

(Reporting by Susanna TwidaleEditing by Peter Graff)

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