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Gresham House plc

Wind power – now cheaper than gas

Offshore wind generation has flourished in the UK in recent years. The UK’s long coastline and geographic location mean it is ideally situated to exploit the power of the wind. In Scotland, wind turbines generated almost twice the entire country’s domestic power requirements in the first six months of 2019 and Britain plans to generate a third of its power from wind by 2030.

Recent weeks have seen a series of significant developments for UK wind power. The result of the third ‘Contracts for Difference’ auction saw the Government awarding contracts for a further six gigawatts (GW) of offshore wind generation. These contracts provide a fixed price for the energy generated from the winning projects for the next 15 years, protecting them from volatility in the energy markets.

Gresham House plc (LON:GHE) is a London Stock Exchange quoted specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, in public equity, private assets, forestry, new energy and housing.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.