RenewableUK has emphasized the significance of Labour's electoral mandate in advancing the clean energy agenda, urging the party to prioritize key actions including lifting restrictions on onshore wind projects in England and boosting funding for this year's Contracts for Difference (CfD) auction.
Dan McGrail, Chief Executive of RenewableUK, underscored the potential impact of increased CfD budget allocation on the renewable energy sector. “By raising the budget as a primary initiative, the new government can catalyze substantial investment in renewable projects, driving down consumer costs, enhancing energy security, and bolstering UK supply chains and employment,” McGrail stated.
The current budget for CfD Allocation Round 6, set in March, exceeds GBP 1 billion, with expectations to secure between 3 GW to 5 GW of new offshore wind capacity.
McGrail highlighted the auction's potential to accommodate bids from over 10 GW of eligible renewable energy projects, reinforcing the sector's pivotal role in the UK's energy transition strategy.
