Britain to launch $220 m fund to boost floating wind projects
Britain will launch a US $220 million (160 million pound) fund to develop floating offshore wind technology as part of the government’s efforts to increase dependence on renewables.
The announcement that was made on Friday comes a few days before hosting the United Nations' COP26 climate summit in Glasgow starting Sunday.
"Floating offshore wind is key to unlocking the spectacular wind energy resource we enjoy in the UK, particularly in the deep waters around the coasts of Scotland and Wales," energy minister Kwasi Kwarteng said in a statement.
How the cash will be allocated is yet to be decided after consultation, the government said in the statement.
Britain has a target to generate 40 gigawatts (GW) of electricity from offshore wind by 2030. The country is currently generating 10 GW.
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