Economy

United Kingdom to conduct next clean energy auctions worth GBP557m in 2019

United Kingdom to conduct next clean energy auctions worth GBP557m in 2019”

Image: UK to conduct next renewable energy auctions in 2019.

Richard Evans, North Energy sector lead at KPMG and a member of the taskforce, said: "As the government looks to a modern industrial strategy, with energy as one of the key pillars, the Northern Energy Taskforce offers a strategy that provides a route for the North to drive forward its distinctive economic priorities and play to its strengths". The world is moving from being powered by polluting fossil fuels to clean energy.

"Following a significant period of uncertainty in the energy sector, businesses need certainty about the plans and policies that will deliver a low-carbon future".

Low-carbon innovation is at the heart of the government's approach, climate change and industry minister Claire Perry said in a written statement to parliament.

The measures include up to GBP 557 million (USD 738m/EUR 622m) of funding for future contract for difference (CfD) auctions for less established renewables such as offshore wind that was announced yesterday.

"Government is clear that clean growth is a priority for the United Kingdom, and that the low-carbon sector can help to increase the competitiveness and productivity of our economy in the decades ahead, creating high-value jobs as well as taking effective action on climate change".

"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".

"This announcement secures cheap, home-grown, clean energy for the UK".

The government in the United Kingdom has published its long-awaited and much anticipated Clean Growth Strategy, which includes a "sector deal" for offshore wind that could see more than 10 GW of new offshore wind capacity developed.

Scottish Secretary David Mundell said: "This UK government investment is vital in realising the potential of less established renewable technologies, as well as providing Scottish jobs in the projects supported". This unbelievable cost reduction is a reminder of what innovative industry can deliver when backed by competitive auctions. "However, what's missing is clarity on how the lowest-cost technology, onshore wind, can deliver for United Kingdom consumers".



Like this

loading...
loading...

Latest


12 October 2017
California Wildfires Blamed For 17 Deaths; High Winds Forecast
Social media flooded with photographs and videos of the neighborhoods that I once knew, now leveled and reduced to rubble. Santa Rosa police on Tuesday issued an urgent evacuation warning for anyone remaining in the Oakmont neighborhood.

12 October 2017
Eurofighter jet crashes in Spain, killing pilot
Thursday's parade saw the participation of 3,900 military personal, along with 78 different aircraft, including four Eurofighters. Hispanic Day is an annual national Bank Holiday commemorating when Christopher Columbus set foot in the Americas in 1492.

12 October 2017
CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Stock Passes into Potential Pullback Range
The value of the investment in CASI Pharmaceuticals, Inc . went from $0 to $2,000 increasing inf% for the reporting period. Considering that the stock daily volume of 1.67 million shares, this represents a pretty noteworthy shoot in volume.

12 October 2017
Shahid Kapoor gets mocked for his shirtless look in 'Padmavati'
Padmavati is directed by Sanjay Leela Bhansali and is ready to hit the screens on December 1. Deepika who plays Rani Padmini in the film has broken the history of Indian Cinema also.

12 October 2017
Robert Kubica completes 'successful day' of testing for Williams at Silverstone
The Williams Formula 1 team is not releasing any information concerning Robert Kubica and his recent test at Silverstone Circuit. Kubica recently enlisted the services of reigning world champion Nico Rosberg as his manager.

12 October 2017
Antonio Conte set to provide clarity on N'Golo Kante injury
One of football fans' main fears is that a key man will go away on global duty, only to come back injured. Morata picked up a hamstring issue in the loss to Manchester City just before the two-week global break.

12 October 2017
Stephens Reiterates Hold Rating for The Cheesecake Factory Incorporated (CAKE)
The Pro-Dex segment provides primarily medical and dental instruments using shared production and assembly machines and workforce. Following the completion of the sale, the director now directly owns 16,750 shares of the company's stock, valued at $1,035,485.

12 October 2017
Teza Capital Management LLC Takes Position in Fiserv Inc (FISV)
The New York-based Oppenheimer & Co Incorporated has invested 0.01% in Wesco Aircraft Holdings Inc (NYSE:WAIR). (NYSE:KMT). It has outperformed by 51.43% the S&P500.The move comes after 9 months positive chart setup for the $3.33 billion company.

12 October 2017
Don't endorse the Indian viewpoint on CPEC: Pak to US
The country has played and will continue to play the most significant role in bringing peace and stability in the region. This was seen in Islamabad as a direct endorsement of India's position on the project, which passes through PoK.

12 October 2017
16-year-old opens fire on police; standoff ongoing
As this was happening, police say the 16-year-old grandson came from a back bedroom and began firing at officers. Martin Lane and Walker Avenue are closed, and a few homes in proximity have been evacuated, the report said.