UK to provide £557m in CfD auction for new renewable energy projects

13 October 2017 (Last Updated October 26th, 2017 12:35)

The UK Government has revealed that it will provide up to £557m for renewable energy projects in a contracts for difference (CfD) auction round planned for 2019.

The UK Government has revealed that it will provide up to £557m for renewable energy projects in a contracts for difference (CfD) auction round planned for 2019.

The funding will support the development of less established renewable technologies and help develop new wind projects on remote Scottish islands.

This move is part of the government’s upcoming Clean Growth Strategy, which includes several proposals on housing, power, business, transport, and the environment to help the country transform towards a low-carbon economy.

“We are ensuring that remote island wind projects in Scotland, which have the potential to benefit the island communities directly, have access to the same funding opportunities as offshore wind.”

UK Energy Minister Richard Harrington said: “Scotland already has a strong record in exploiting the potential of clean growth, with more than half of Scottish electricity consumption coming from renewable sources.

“We want to go further creating thousands of good jobs and attracting billions of pounds worth of investment.

“That’s why we are ensuring that remote island wind projects in Scotland, which have the potential to benefit the island communities directly, have access to the same funding opportunities as offshore wind in the next renewables auction round.”

The UK currently produces 30% of its total electricity from renewable sources.