Published by Insider Media
RENEWABLE ENERGY SUPPORT SCHEME MAKES £285M AVAILABLE
The biggest ever round of the UK government’s flagship renewable energy support scheme has opened, with £285m a year being made available for building the next generation of the country's green energy projects.
Renewable energy schemes across Great Britain can now bid for funding in the fourth round of the Contracts for Difference (CfD) scheme, which is aiming to secure 12GW of electricity capacity.
The additional offshore wind capacity resulting from the funding alone could generate enough electricity to power about eight million homes.
Compared to the previous round, the initiative is time open to an expanded number of renewable energy technologies, with offshore wind, onshore wind, solar, tidal and floating offshore wind projects, among others, all eligible to bid.
Business and energy secretary Kwasi Kwarteng said: "Our biggest ever renewables auction opening today will solidify the UK’s role as a world-leader in renewable electricity, while backing new, future-proof industries across the country to create new jobs.
"By generating more renewable energy in the UK, we can ensure greater energy independence by moving away from volatile global fossil fuel prices, all while driving down the cost of new energy."
Of the £285m total, £200m has been made available for offshore wind, £75m for emerging technologies and £10m for established technologies, such as solar and onshore wind.
RenewableUK chief executive Dan McGrail added: "This is set to be a landmark auction securing the largest amount of new renewable energy capacity so far, as ministers have listened to our calls for the overall capacity cap to be lifted to reflect the enormous appetite among companies and investors in UK projects."