Accelerating renewables one ☕ at a time | Offshore wind & supply chain expert | Establishing & growing businesses across the offshore wind value chain | BD & marketing expert | Industry Speaker
📢 Notizie importanti! Exciting news for offshore wind in Italy the recent approval of the FER2 Decree and the introduction of CfD by the European Commission! 🤔 OK, so what is FER2? Well, the FER2 Decree seeks to incentivise the development of high-cost and innovative renewable energy projects through a sequence of competitive auctions between 2024-28. This development proves significant for the growth of renewable energy in Italy, with a total capacity target of 4.6 GW - 3.8 GW of that accounting for offshore wind projects. 📝 So adopting a CfD mechanism? Yup, under FER2, CfDs has been introduced. This is a strategic move to attract investment by providing a stable income for producers, which has shown to be successful in the UK. As a result, reducing the financial uncertainty that could otherwise deter investment in renewable energy projects. This structure is particularly crucial for offshore wind projects, which require significant upfront capital and face long development timelines. ♻️ What is the Significance of FER2? FER2 is aimed to help Italy realise and reach their renewable energy potential. The introduction of CfD, and its ability to support offshore wind projects, is specifically tailored to meet Italy's unique environmental conditions, with areas of Sicily and Sardinia having great potential for wind energy production. Beyond offshore wind, it will also see investment in several technologies including, 🌍 Geothermal ☀️ Solar Thermodynamic Power 🌱 Biomass 🐮 Biogas 🌊 Floating PV Plants If you'd like to learn more about these developments, OWC Director of New Geographies, David Wotherspoon, and Senior Naval Architect, Riccardo Gnocchi, have written a more in-depth account over on our website. 👇 🔗https://lnkd.in/ecfvRJrZ At OWC, we are committed to supporting our clients through all stages of the bid advisory process, leveraging our expertise to ensure successful project development and implementation. For more insights on renewable energy development and how OWC can support your projects, visit our website, or 📞 📧 contact us directly. If you are interested in the Italian market, please reach out to David or Riccardo. If you are interested in discussing auction, bid support or site selection in any market, please reach out to Juan Frías, OWC Head of Offshore Wind Auctions or Lara Lawrie, OWC Director of Consents and Environment. Oh, and if you are in the UK, don't forget to vote tomorrow. 🗳 --------------------------------------- 📞 📧 Contact me or OWC if you want to chat about support for your renewable energy project, investment, or market entry. ➡ Subscribe to the loudest, most seriously caffeinated #offshorewind newsletter on LinkedIn 👉🏼 https://lnkd.in/evdXr-QH