UK launches its biggest renewables CfD auction
Bulk of funds earmarked for offshore wind but solar, tidal and geothermal projects also invited to bid
The UK has launched its biggest ever renewable energy support scheme in a move designed to deliver 12GW of low-carbon generation across projects potentially worth £20bn ($26.5bn). The government has invited developers to bid for 15-year contracts-for-difference (CfDs) that will potentially support projects with annual subsidies totalling £285mn, depending on market prices for electricity. Project developers have until 14 January to place their bids, with auction results expected in the spring or summer of next year. “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 cos
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