UK: Record-Breaking Renewables Auction

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Record-breaking renewables auction provides biggest step yet towards net zero emissions

RenewableUK is welcoming the results of today’s Contracts for Difference auction which will support nearly 5.8GW of new renewable energy capacity, enough to meet 8.5% of the UK’s annual power needs. RenewableUK estimates that the 5.5 GW of offshore wind projects will support over 7,000 jobs on the 6 projects and throughout the UK supply chain. These wind farms will bring up to £12.8bn of investment to the UK, particularly boosting the economies of coastal communities where these projects will be built and operated. The auction secured new offshore wind capacity at a record low price of £39 per megawatt hour (MWh), a reduction of 66% compared to... ... More: Official Press Release RenewableUK

Keywords:

RenewableUK, renwables, offshore, wind industry, auction, CfD, net zero emissions, jobs, reduction, terrawatt