General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain September 5, 2018. REUTERS/Phil Noble
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The world's biggest offshore wind park planned off England's coast will probably in the next decade generate power cheaper than by burning coal. A number of offshore wind projects won contracts to sell power at guaranteed prices in a U.K. auction Friday. The price of 39.65 pounds per megawatt-hour ($49.70) was 31 percent below the level in a similar auction two years ago.Projects from developers including SSE Plc, Equinor ASA and Innogy SE won offshore wind power-purchase contracts that will have the capacity to generate as much as 5.5 gigawatts of power, the government said.Three projects by Equinor and SSE were approved in the zone for a total generation of 3.6 gigawatts.U.K. month-ahead power is trading at 42.05 pounds per megawatt-hour, down 34 percent this year.Earlier this year, Iberdrola sold a stake in its 714-megawatt East Anglia One project to Macquarie Group Ltd. for 1.63 billion pounds.
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