UK Offshore Wind - AR8 is Open

Research evidence excerpt

UK Offshore Wind - AR8 is Open

EUROPE | Utilities & Clean Energy EquityJulyResearch20, 2026

AR8 opened today, with developers able to submit eligible projects until

7 August. We estimate ~17GW of predominantly fixed-bottom offshore

wind capacity will compete for 25-year inflation-linked CfDs, with SSE and

RWE representing the largest share of eligible capacity. Auction results are

expected by 17 February, depending on potential appeals.

The application process for Allocation Round 8 started today with the opening of the

Application Window for developers to submit their CfD applications and prove eligibility criteria

for the auction. The indicative high-level timeline for the AR8 auction depends on appeals, but

the possible outcomes are:

7 August: Deadline to submit CfD application•

1 October–9 December: Sealed Bid window (qualified projects make their bids)•

27 November–17 February: NESO notifies applicants of the results•

SSE is the largest developer in terms of eligible capacity, with 3.2 GW across four projects

as seen in Exhibit 1 and Exhibit 2, followed by RWE and Green Investment Group (Macquarie

Asset Management).

Developers of fixed-bottom projects can bid at up to £113/MWh (real-24), while developers of

floating/deepwater projects can bid at up to £271/MWh (real-24). The last AR7 auction was

cleared ~20% below the administrative strike price, with RWE the main winner of the auction.

We view the UK offshore wind market as among the most attractive markets for offshore wind

(see our note).

Exhibit 1 - SSE with the largest eligible capacity of 3.2 GW

4.4

3.2

2.6

2.0

1.8 1.7

0.8

SSE RWE Green TotalEnergies Ocean Winds Iberdrola Others

Investment (Engie & EDPR)

Group

.

Source: Company Data, Recharge News

Pro-rata capacity (GW) for bottom-fixed only projects