The Government has given the green light to a major offshore wind farm which could prove to be the cheapest yet in UK waters.
Greg Clark, the Business and Energy Secretary, granted ScottishPower planning permission to build the second phase of its East Anglia wind farm 42 miles off the coast of Norfolk using wind turbines more than two and a half times the height of London’s Big Ben.
The 1.2GW project could produce enough electricity to power nearly a million homes by 2025, and is expected to be better value than the first phase of the development which is the cheapest to go into construction so far.
ScottishPower Renewables, owned by Spain’s Iberdrola, will need to compete with other projects in an auction to secure a contract which guarantees a set revenue stream through top-up payments from consumer bills.
The first phase of the East Anglia project is the cheapest offshore wind project to be built, but the £119 per megawatt hour deal has nonetheless raised calls for developers to work harder to reduce the burden on bill payers.
The project cost is roughly 30pc higher than EDF’s Hinkley Point C nuclear plant which has attracted fierce criticism for being too expensive to build or support.