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£557 million for new renewable energy projects
Energy Minister Richard Harrington has confirmed up to £557 million for less established renewable electricity projects as part of the government’s Clean Growth Strategy.
The Clean Growth Strategy, soon to be published, will build on the success of recent low carbon generation figures and ensure Britain remains a global leader in the move towards a low carbon economy.
Developers will compete for up to £557 million of funding in Contracts for Difference auctions which drive down energy costs for consumers and increase business confidence.
Harrington said: “The government’s Clean Growth Strategy will set out how the whole of the UK can benefit from the global move to a low carbon economy. We’ve shown beyond doubt that renewable energy projects are an effective way to cut our emissions, while creating thousands of good jobs and attracting billions of pounds worth of investment.”
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