Recent floating wind auctions across Europe and Asia have revealed striking differences in the awarded strike prices — despite comparable technologies and similar project ambitions. What explains these variations, and what lessons can governments draw as they prepare for upcoming floating wind rounds?
To shed light on these questions, Offshore Norge and Norwegian Offshore Wind have commissioned an independent analysis from TGS 4C, examining auction results from France, the United Kingdom, and South Korea. The findings will be presented in an upcoming webinar.
About the Report
While floating wind technology continues to mature, recent auctions in France, the UK, and South Korea have delivered markedly different commercial outcomes. The TGS 4C study investigates why — focusing on how national frameworks, auction design, and risk allocation mechanisms shape developer behavior and ultimately the prices bid.
Each country illustrates a distinct model:
- France has adopted a state-led framework, offering detailed site investigations, government-built grid connections, and strong weighting on non-price criteria such as environmental and industrial benefits.
- The United Kingdom continues to rely on its market-driven two-stage model, combining site leasing with the Contract for Difference (CfD) mechanism, but places more upfront risk on developers.
- South Korea is transitioning from a developer-led system to a more centralised approach, with a renewable energy certificate (REC)-based structure that offers varying multipliers depending on project characteristics.
By comparing these systems, the report highlights how auction design, grid policy, regulatory certainty, and project risk profiles directly influence bid strategies and price formation. The insights are vital for policymakers and developers seeking to design competitive, scalable, and bankable floating wind frameworks in emerging markets like Norway.
Program
Presentation of the report:
- Richard Auckland, Director of Research at TGS 4C, supported by country specialists Benjamin Swarbrick, Patrick Owen, and Jordan May.
Industry perspectives:
- Reflections from the two consortia that have applied for Utsira Nord:
Knut Vassbotn (Deep Wind Offshore) and Daniel Rogstad (Equinor).
Q&A session:
- Open questions to the TGS 4C research team.
This webinar will provide valuable context for stakeholders across the offshore wind value chain — developers, policymakers, investors, and regulators — seeking to understand the dynamics of floating wind auctions and the key factors that determine price competitiveness.