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Industry Group Calls on UK to Increase CfD Auction Budget

POWER

Industry body Scottish Renewables has requested that the UK government increase the CfD allocation round 6 budget to provide “certainty” to vital Scottish projects and supply chains, it said, cited by ReNews.biz.

  • The AR5 auction did not result in any offshore wind contracts for 2023 and this year due to inflation and higher interest rates.
  • Looking ahead to the AR6 auction, despite over 12GW of renewable energy projects qualifying, the budget set in March 2024 will only allow a small portion of these projects to secure funding.
  • The UK is planning to have around 50GW of offshore wind by 2030.

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