EDF Renewables UK chief executive Matthieu Hue (pictured) has called for a budget increase for Allocation Round 6 (AR6).
Hue said AR6 “is a game-changer and will restore investor confidence if budgets are increased”.
He argued this was necessary for the country to maintain its leadership position in the global renewable energy market and showing investors it is committed to developing new technologies, like floating offshore wind.
Hue added: “It’s about nurturing our supply chains and creating jobs right here in the UK.
“And most importantly, it’s about demonstrating the UK’s unwavering commitment to meeting its net zero targets by 2050.”
The EDF UK chief argued despite the country having a large pipeline of shovel-ready solar and onshore wind projects ready for AR6, the “current budget falls short and only stretches as far as half or less of this pipeline”.
He added: “Auction Round 6 will also play a key role in determining the future of floating offshore wind. If we want to reach our net zero target by 2050, the UK will need close to 100GW of offshore wind, with up to 50% of this coming from floating offshore wind.
“Test and demonstration projects are key stepping stones to building a robust British supply chain for floating offshore wind.
“If we can seize this opportunity, the UK stands to benefit from the projected £92bn GVA and the creation of over 100,000 jobs within the offshore wind industry by 2030.
“In short, we need a budget that matches the size of the UK’s ambitions.”
Hue said the increase in the AR6 budget in March of this year was “a step in the right direction and very welcome – it wasn’t the big stride we needed to show the world that the UK is fully committed to renewable energy deployment”.
He argued: “There’s no time to waste. The UK must act now.”