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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Refiners Should Not Be Making Above Normal Profits- Biden

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    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    India achieved a solar share of 10.69 percent of installed power capacity

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    TotalEnergies starts up its fourth solar power plant in Japan

    ACCIONA Wind Energy

    ACCIONA Energia to supply 100% renewable energy to Grupo Violas in Portugal

    Fermi Energia Selects GE Hitachi Nuclear Energy BWRX-300 Small Modular Reactor for Deployment in Estonia

    Fermi Energia Selects GE Hitachi Nuclear Energy BWRX-300 Small Modular Reactor for Deployment in Estonia

    Atlas and Hitachi to develop energy storage systems for renewable projects

    Nine New Countries Sign Up for Global Offshore Wind Alliance at COP27 in Sharm El-Sheikh

    SolarDuck to build 5MW floating solar demonstrator integrated with offshore wind farm

    United Kingdom Onshore Wind Generation Has Now Reached 37GW

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Home Featured

UK to offer £205m Renewable Contracts in Auctions

in Featured, News, Renewable Power
US Authorities Seek To Reduce Regulations On Offshore Wind

On March 16, the UK government went on to announce a budget of GBP 205 million for the latest renewables auction, the applications for which are scheduled to open on March 30.

This happens to be the fifth allocation round of contracts for difference- CfDs which is now scheduled to be held every year.

The auction goes on to include GBP 170 million when it comes to established technologies, which, by the way, for the very first time, include offshore wind as well as remote island wind. The second pot will go on to allocate GBP 35 million in the field of emerging technologies like floating offshore wind and also geothermal, with a GBP 10 million ring that’s specifically fenced for tidal stream technologies.

The previous action covered around 11 GW when it came to clean energy capacity. The support scheme has been the driving force behind offshore wind growth in the UK, which aims to have 50 GW of turbines installed in its waters by the end of the decade.

Apparently, the 15-year CfDs that are to be awarded to the developers will see them pay money back in case wholesale electricity prices are higher than the price mentioned in the agreement.

The results pertaining to the auction are anticipated to be out in the late summer or early autumn.

With the budget announcement, the move to yearly auctions as well as continued renewable energy investment will go on to limit the impact of events such as the war in Ukraine and also drive the overriding priority for the UK so as to have the cheapest prices in electricity across Europe, said Graham Stuart, the minister of state for energy security and net zero.

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