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Construction News
04/04/2017
Renewables Developers Invited To Bid For £290m Worth Of Work
Up to £290 million worth of contracts have been made available for renewable energy developers to bid for.
A second Contracts for Difference (CfD) auction has been launched today, 04 April, in order to support the growth of clean energy in Britain.
The contracts represent the first part of the Government's commitment to provide up to £730m of annual support for renewable electricity projects over the course of this parliament.
The deals are won through a competitive process which drives down energy costs for consumers and guarantees companies a certain price for the low-carbon electricity they produce over 15 years.
Overall, the auctions process is expected to continue over the coming months, before drawing to a close by autumn when the winners and final clearing prices are 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 2.5 million tonnes per year."
(LM/CD)
A second Contracts for Difference (CfD) auction has been launched today, 04 April, in order to support the growth of clean energy in Britain.
The contracts represent the first part of the Government's commitment to provide up to £730m of annual support for renewable electricity projects over the course of this parliament.
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The deals are won through a competitive process which drives down energy costs for consumers and guarantees companies a certain price for the low-carbon electricity they produce over 15 years.
Overall, the auctions process is expected to continue over the coming months, before drawing to a close by autumn when the winners and final clearing prices are 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 2.5 million tonnes per year."
(LM/CD)
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