U.K. Attempts to Balance Offshore Wind Risks

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Dec. 18 (Bloomberg) -- BNEF Chief Editor Angus McCrone discusses risks to the U.K. offshore wind market on Bloomberg Television’s “The Pulse.”

With a number of different risks that maybe the government needs to look at more closely.

At the moment, the u.k. is the world's leading offshore wind market.

About 4.5 gigawatts of capacity being constructed.

That is in the bag.

The government wants to get to 10 gigawatts or more by 2020 in order to fulfill part of its renewable energy target.

In order to do that, it has to provide the right frkt incentives but also give people enough comfort.

The various risks for these projects sort of manageable and are not going to bite them back.

And this is critical because we need to meet the 2020 targets?

That's right.

There are other options that may come into play like the deal with ireland to import 3 dig watts of -- gigawatts of irish wind into the u.k.. there will have to be a lot more offshore wind capacity in order for the u.k. to meet that target.

The u.k. is a leader in this area.

How does it compare with other nations?

It has more capacity commissioned or being built at the moment than anywhere else.

The main players, germany, where there have been projects and also belgium and the netherlands.

Some other countries are going to do it too.

The french are going to have a large program at the end of this decade but they have taken a view that sensibly they will do it a little bit later when the costs have come down rather than doing it straightaway.

The chinese were going to get involved soon but it looks like that is going to take a bit longer than they thought.

Angus, nice to see you.

Francine, over to you.

Thank you so much.

For those listening on bloomberg radio, "the first word" is up next.

For viewers, the second hour of "the pulse" is coming up next.

Amazon staff take to the streets.

Plus it is all about the fed today.

Time for taper.

We'll discuss that with the consults g director.

In the meantime, you can follow guy and i on twitter pism i'm at flacqua.

Guy is at guy johnson tv.

We'll see you in a couple of minutes.

It is all about the fed decision.

We have a guide for you about what to watch out for coming up next in the second hour of "the pulse" for our viewers.

This text has been automatically generated. It may not be 100% accurate.


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