British government announces the biggest auction for renewables

The British government announced the biggest auction round of its renewable energy scheme for power generation companies to double renewable electricity capacity.

The latest announced is the fourth, in hope to power 8 million homes by building an extra offshore wind.

The government said that this round will provide 200 million pounds (US $277 million) to support offshore wind projects and ensure that the country hits a target of 40 GW of installed capacity by 2030, up from 10.4 GW at present.

Under the government’s Contracts-for-Difference (CfD) scheme, qualifying projects are given  a minimum price at which they can sell electricity. 

The scheme was launched in 2014 in hope to encourage investment in low-carbon generation in Britain.