UK government earmarks GBP1.5 billion for contracts for difference pot
- Admin
- Aug 2, 2024
- 1 min read
The UK government has set a record-breaking budget for its next renewable energy auction, with just over GBP1.5 billion available for allocation. An extra GBP530 million has been added to the Contracts for Difference (CfD) budget by the newly elected Labour government to accelerate the deployment of wind, solar, and other renewables. CfDs have been a key part of the UK renewable energy strategy with the highest budget on record in the sixth CfD auction. Mark Sommerfeld and Sam Hollister, among others, have welcomed the increased CfD budget, noting its importance for the UK power system and offshore wind allocation.
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