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Blowing in the Wind - £730 Million for Renewable Electricity

11 November 2016 | Updated 01 January 1970
 

The Government has (in the week ending Friday 11) reaffirmed its commitment to spend £730 million on renewable electricity projects over this parliament and set out further details for the next Contracts for Difference auction where companies will compete for the first £290 million worth of contracts for renewable electricity projects.

The second Contracts for Difference auction is planned to deliver enough renewable electricity to power around one million homes and reduce carbon emissions by around 2.5 million tonnes per year from 2021/22 onwards. The Government believes the size of the contracts will encourage  the development of new technologies.

The maximum price for offshore wind projects is now 25% lower than was set for the last auction, thus a competitive auction could bring that price down further.

 

Out with coal

The Government has also set-out proposals for the next steps to phase out electricity generation from coal-fired power stations within the next decade in the hope this will provide confidence to investors in new, cleaner energy capacity.

Business and Energy Secretary Greg Clark said: “We’re sending a signal that Britain is one of the best places in the world to invest in clean, flexible energy as we continue to upgrade our energy infrastructure.

“This is a key part of our upcoming industrial strategy, which will provide companies with the further support they need to innovate as we build a diverse energy system fit for the 21st century that is reliable while keeping bills down for businesses and families. This is also a key part of the global deal to tackle climate change agreed in Paris last year."

 

Islands consultation

The Government is also looking to end uncertainty over whether onshore wind projects on remote islands should be treated differently from onshore wind projects on mainland Great Britain. A consultation was launched this week asking for views which either support or oppose this position.

Picture: The Government has reaffirmed its commitment to spend £730 million on renewable electricity projects

Article written by Brian Shillibeer | Published 11 November 2016

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