In May 2022 the Government’s first Emissions Reduction Plan committed to developing regulatory settings by 2024, to enable investment in offshore renewable energy. This work has been progressing at pace beginning with the release, in December 2022, of a first discussion document Enabling Investment in Offshore Renewable Energy, which focused on the feasibility stage of offshore renewable energy projects.
Taking on board feedback from that first consultation, the Government has taken in principle decisions to proceed with a feasibility permitting approach. The feasibility permits will have a maximum duration of seven years, will be subject to ‘use it or lose it’ provisions, and will be granted based on a defined list of assessment criteria. Importantly, feasibility permits will provide an exclusive right for the holder to apply for a commercial permit to construct and operate offshore renewable energy infrastructure.
