Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

UK Offshore Wind Project Finance: Consents, OFTO and Grid, Procurement and O&M, Offtake and CfDs, Financing Documents, Security and Key Risks

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Practice notes

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Introduction

An offshore wind farm is a generating plant comprising all the infrastructure needed to capture and gather wind energy, convert it into electricity, and securely deliver it to the main power network or a nearby local grid as required. Offshore wind is gaining prominence as a renewable solution to address Climate Change, with the UK and Europe leading globally in the development of large-scale offshore wind farms today. Though the recent gas shortages and spells of low wind in Europe have revealed the fragilities of relying on offshore wind for energy security, it unquestionably remains a crucial and growing share of the global energy mix, bolstered by rapid expansion in China. In recent years, the European offshore wind industry has flourished, most notably in the UK, which ranks among the largest markets and hosts several of the biggest operational offshore wind projects anywhere today. The UK’s objective is 50 GW of offshore wind by 2030, of which 5 GW is planned to utilise floating technology. By 2025, around 10.5 GW is operating in UK waters, almost all from fixed-bottom turbines in shallower waters. For further information on the plans to carefully and ambitiously continue to progressively and sustainably develop...

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Web page updated on 21/05/2026

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