BEIS invites clean energy companies to bid for £290m

The Department for Business, Energy & Industrial Strategy (BEIS) has invited renewable energy developers to compete for £290 million worth of contracts to support the growth of clean energy in Britain.

Contracts for Difference 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. This scheme gives renewable energy companies the support and certainty they need to attract investment and get projects off the ground.

According to a statement from BEIS, the contracts made available today represent the first part of the government’s commitment to provide up to £730 million of annual support for renewable electricity projects over the course of this parliament.

The contracts are aimed at encouraging a cleaner, more flexible energy supply.

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.”

Event Diary

London Calling! Register online for The HVAC & Refrigeration Show 2018

Taking place at London’s ExCeL, ecobuild is the number one event for forward thinkers in the built environment, comprising the ecobuild conference and futurebuild districts.

Hotelympia 2018 will equip visitors with products, trends and innovations to develop their businesses.