The British government has announced a £22m (€25.5m) increase in the government backing for established renewable technologies (solar and wind) through the Contracts for Difference (CfD) auctions, taking the budget of the ongoing auction to a total of £227m (€264m). The funding for the current round (AR5) will be allocated as follows:
- £190m (€220m) for established technologies such as solar and offshore wind
- £37m (€43m) for emerging technologies such as floating offshore wind
- £10m (€12m) for tidal stream projects
Launched back in 2014 to support the development of low-carbon electricity generation, the CfD scheme has served as a tool to increase the proportion of the UK’s energy coming from renewable sources by holding auctions every two years and it has already showed a promising progress towards the British target to decarbonise the power sector by 2035 and achieve net-zero by 2050.
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