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UK to provide 557 mln stg funding for new renewable energy projects
October 11, 2017 / 11:31 AM / 2 months ago

UK to provide 557 mln stg funding for new renewable energy projects

LONDON, Oct 11 (Reuters) - The British government confirmed on Wednesday up to 557 million pounds ($734 million) of funding for new projects which generate electricity from less-established renewable energy technologies.

The government said the next so-called contracts-for-difference (CfD) auction will take place in Spring 2019.

The CfD support scheme guarantees generators a minimum price for the electricity they produce.

The government is expected to publish its Clean Growth Strategy plan soon, which will include proposals on reducing emissions from housing, business, transport and the power sector. ($1 = 0.7586 pounds) (Reporting by Nina Chestney and Susanna Twidale, editing by Louise Heavens)

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