Budget uplift will unlock more investment in renewable energy projects

31 July 2024 - RenewableUK press release

Commenting the the Government's announcement on the revised budget for Allocation Round 6, RenewableUK's Chief Executive Dan McGrail said:

“It’s great to see government choosing to unlock more investment in renewable energy projects by increasing the budget for the next Contracts for Difference auction. These new wind and solar farms will improve our energy security, drive economic growth, support thousands of new green jobs and ensure we continue to create a lowest cost electricity system for billpayers.

This builds on a series of positive announcements from Government which are increasing investor confidence in the UK, including ending the ban on onshore wind in England and approving new large-scale solar farms.

This auction will not unlock investment in all shovel-ready projects, so the Government will need to ensure that the next auction rounds focus on project delivery to ensure we achieve the Prime Minister's clean power mission and increase the confidence of investors in the UK's supply chain."

More details on the Government's announcement are available here. 

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Notes

For further information, contact

Robert Norris, Head of Communications
07969 229 913 Robert.Norris@RenewableUK.com

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