Plans revealed for “green industrial revolution”

The Government has set out the next steps for its “green industrial revolution” as it publishes its plans for the next round of the renewables support scheme.

The fourth round of the Contracts for Difference (CfD) scheme, opening late 2021, will aim to double the capacity of renewable energy compared to the last round and expand the number of technologies supported, with offshore wind, onshore wind, solar, tidal and floating offshore wind projects all eligible to bid.

This fourth round aims to increase the capacity of renewable energy from the 5.8GW achieved in the last round to up to 12GW, which could be enough to power 20 million electric cars on the UK’s roads in any year.

Contracts for Difference are 15-year private law contracts between renewable electricity generators and the Low Carbon Contracts Company (LCCC), a Government-owned company that manages CfDs at arm’s length from Government.

The announcement follows the Prime Minister’s Ten Point Plan to create 250,000 new green jobs, tackle climate change and build back greener from coronavirus.

The announcement is coupled with a new consultation looking at the supply chain and ways to support more jobs and private investment by increasing the competitiveness of UK manufacturers.

Energy Minister Kwasi Kwarteng said: “The UK is a world leader in clean energy, with over a third of our electricity now coming from renewables. That huge achievement is thanks to the Government’s Contracts for Difference scheme.”

    Share Story:

Recent Stories