November 20, 2018 / 5:25 PM / 23 days ago

Britain to hold auction for renewable subsidies in May 2019

LONDON (Reuters) - Britian will hold its next auction for subsidies to help fund renewable power projects in May next year, with 60 million pounds available, the government said on Tuesday.

Under the so-called contract for difference (CfD) scheme, qualifying projects are guaranteed a minimum price at which they can sell electricity, and renewable power generators bid for CfD contracts in a round of auctions.

Britain’s energy minister Claire Perry told parliament the government was in the final stages of concluding a sector deal for the offshore wind industry.

“It will include ... 60 million for the contract for difference auction next spring,” she said during questions in the House of Commons.

Reporting By Susanna Twidale, editing by David Evans

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