BP Vice-president Offshore Wind Business Excellence Ioanna Exarchou has favoured price-based auctions as the best way to achieve global targets for installed capacity by the end of the decade.
She said that this method – utilised by the UK’s CfD regime – maximised the objective analysis of bids.
“Each market is different but if we could design everything from a blank piece of paper, we would advocate for primarily price-based auctions,” she told the Offshore and Floating Wind Europe conference in London on Wednesday.
“Non-price criteria like sustainability, circularity and regional benefits are also important. But this [price] encourages transparency and is an objective way of selecting bids.”
Exarchou added that market growth and deployment could also be accelerated through more joined-up working between developers and government to set achievable goals, speed up planning regimes and to streamline off- and onshore corridors.