The UK has awarded £315m ($489m) worth of contracts to 27 renewable energy projects under the new contracts-for-difference (CfD) scheme.
The contracts for two offshore wind developments, 15 onshore wind projects, and five solar facilities have been awarded in the initial allocation round of the scheme.
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Together, the developments are expected to generate 2GW of renewable energy, out of which the two offshore wind projects will have 1.1GW capacity.
The solar facilities receiving government support will have a combined generation capacity of 72MW.
Once operational, the renewable projects are likely to reduce CO2 emissions by 4 million tonnes every year.
DECC secretary Ed Davey said: "These projects could power 1.4 million homes, create thousands of green jobs, and give a massive boost to home-grown energy, while reducing our reliance on volatile foreign markets.
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By GlobalData"The auction has driven down prices and secured the best possible deal for this new clean, green energy."
Competition in the auction has reduced prices by around 58% for each technology.
UK Department of Energy and Climate Change (DECC) said in a release that as only the most price competitive projects received contract offers, consumers are getting around 550MW more capacity than could have been funded without competition.
The release stated: "The clearing price for solar came in at up to 58% lower than the price would have been without competition, offshore wind at up to 18% lower and onshore wind at up to 17%."
Image: UK awards £315m worth of contracts to 27 renewable energy projects. Photo: courtesy of Tanatat / FreeDigitalPhotos.net.
