UK More Than Doubles Clean Energy Scheme for Offshore Wind

The UK is more than doubling the funding for a so-called Clean Industry Bonus to support offshore wind projects, just as the world’s biggest offshore wind project developer, Orsted, pulled the plug on a major UK plan due to worsened economics. The UK government announced on Friday that it is bumping up the budget for the Clean Industry Bonus to $722 million (£544 million) from an initial $265 million (£200 million).

Under the Labour government’s plan to make Britain a clean energy superpower, the UK has introduced the Clean…