New clean energy projects to power 3.6 million homes and create thousands of new jobs

Sep 13, 2017 · bdaily.co.uk

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The government has announced that eleven new energy projects worth up to £176m per year have been successful in the latest competitive auction for renewable technologies.

Contracts for Difference are designed to drive investment in a new generation of clean, secure electricity supplies. This is the second round of Contracts for Difference auctions, with the first held in 2015.

The projects, which are set to generate over 3GW of electricity, will power 3.6 million homes.

The government says it is committed to investing in clean technology and driving economic growth, which has been set out in the Industrial Strategy and upcoming Clean Growth Plan.

The competitive approach is continuing to drive cost reductions in the renewable energy industry. As a result, the cost of new offshore wind projects starting to generate electricity from 2022-23 are now 50% lower than the first auction held in 2015.

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