Posted on Sep 11, 2017
A record amount of renewable capacity has been secured for the UK following a second auction of government contracts.
Eleven new energy projects worth up to £176m per year, are set to generate over 3GW of electricity, enough to power 3.6 million homes. demonstrate that the UK continues to be an attractive place to invest in clean energy.
This competitive approach has been successful in driving down costs in the renewable energy sector - the cost of new offshore wind projects starting to generate electricity from 2022-23 are now 50% lower than the first auction held in 2015. Other successful technologies, Advanced Conversion Technologies and Dedicated Biomass with Combined Heat and Power, have also achieved significant savings.
We’ve placed clean growth at the heart of the Industrial Strategy to unlock opportunities across the country, while cutting carbon emissions. The offshore wind sector alone will invest £17.5bn in the UK up to 2021 and thousands of new jobs in British businesses will be created by the projects announced today. This government will continue to seize these opportunities as the world moves towards a low carbon future, and will set out ambitious proposals in the upcoming Clean Growth Plan.
The government believes that this investment will help the UK meet its climate targets while supporting jobs in Britain’s growing renewable industry.
The UK currently has the largest offshore wind capacity in the world and low carbon businesses have a combined turnover of £43 billion, employing 234,000 people.
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