The second phase of the Cabinet Office’s Energy for Growth project will shortly get underway, it was announced on Friday 25 April. The government will invite renewable energy generators to bid for similar 15-year deals as seen in the first phase, which the government believes both phases will result in comparable savings.
The first project saw the government agree a 20-year deal with Air Products to buy electricity at a fixed price from 2016, saving an estimated £97mn, and ensured investment in the £320mn Tees Valley 2 plant. Cabinet Office minister and paymaster general Francis Maude said the Energy for Growth project was “good for the industry, good for taxpayers, and supports this government’s long-term plan for a stronger economy.”
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