Germany Shrinks Wind Auctions After Last Round Attracted No Bids

Germany will scale back offshore-wind auctions next year after the last round failed to attract any bidders.

The government will tender just 2.5 to 5 gigawatts, down from an earlier plan for as much as 6 gigawatts, according to a bill approved by lawmakers Thursday evening.

Germany boasts more offshore wind than any other country in the European Union, but rising costs and a lack of certainty over future revenues have made developers more reluctant to commit to new projects. The country is far off track to reach a target to more than triple offshore wind capacity by 2030.

“Offshore ...