Clean Energy Secured in Fourth round of Contracts for Difference

Clean Energy Secured in Fourth round of Contracts for Difference.

A record amount of renewable energy has just been secured through the biggest ever round of the UK government’s flagship auction scheme.

The fourth round of the Contracts for Difference (CfD) scheme has been the most successful ever, securing almost 11GW across a range of clean technologies, including offshore wind, solar, onshore wind, and – for the first time ever – floating offshore wind and tidal stream – helping to boost British energy security and independence with cleaner, more affordable and diverse energy created in the UK.

CfDs give certainty to project developers to invest in new renewable energy infrastructure by protecting them from volatile wholesale prices. A unique benefit of the CfD scheme is that when wholesale electricity prices are high, as they have been in recent months, generators pay money back into the scheme to reduce the net costs of the scheme to consumers.

The greatest capacity – almost 7GW – has been secured from new offshore wind projects around the coastline of Great Britain, enough to increase the country’s overall capacity built and under construction by 35% and take a significant step towards meeting the government’s 50GW of offshore wind ambition by 2030.

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