More than £570 million is to be made available for less established renewable electricity projects in the next round of Contracts for Difference (CfD) auctions, the UK Government has announced.

Energy Minister Richard Harrington confirmed today, 11 October, that up to £577m of funding will be available for developers to compete for during the next CfD auction, which is planned for spring 2019.

The move is part of the government's Clean Growth Strategy, which will be published later this week and includes ambitious proposals on housing, business, transport and the environment, as well as the power sector. It will also show how actions taken to tackle emissions have helped to reduce energy bills for households.

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According to National Grid, low carbon generation provided more than half (52%) of the UK's electricity over the summer, while PwC analysis shows the UK decarbonising faster than any other G20 nation.

Minister Harrington said: "The government's Clean Growth Strategy will set out how the whole of the UK can benefit from the global move to a low carbon economy.

"We've shown beyond doubt that renewable energy projects are an effective way to cut our emissions, while creating thousands of good jobs and attracting billions of pounds worth of investment."

(LM/MH)