The Department for Business, Energy & Industrial Strategy (BEIS) has today (Monday 13 December 2021) announced the largest ever funding package for the fourth round of the Contracts for Difference (CfD) scheme.
The UK Government’s flagship renewable energy support scheme aims to secure 12GW of electricity capacity, including additional offshore wind capacity that alone could generate electricity equivalent to powering around 8 million homes.
The funding will be allocated to floating offshore wind and tidal stream projects – with solar and onshore wind included for the first time since 2015.
The additional funding, which is more than the previous three rounds combined, is a welcome commitment from the government. Opening the funding to more renewable technologies will increase the amount and diversity of renewable energy on the grid.
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