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Second CfD auction launched

Second CfD auction launched


The government launched the second contracts for difference (CfD) auction on Monday 3 April. The contracts made available represent the first part of the government’s commitment to provide up to £730mn of annual support for renewable electricity projects over the parliament. The auction process is expected to draw to a close by the autumn, when the winners of the auction and final clearing prices will be announced. Energy Minister Jesse Norman said: “This auction underlines that Britain is open for business to companies seeking to invest in low carbon energy. It is designed to deliver clean power to a million homes, create jobs in the energy industry and provide new supply chain opportunities, while reducing carbon emissions by some 2.5mn tonnes per year.”

BEIS