Contracts for Difference budget boosted by £22M.

The government has announced a £22 million increase in the budget for the next Contracts for Difference auction, bringing it £227 million.
The extra budget will be allocated partly to the ‘established technologies’ pot, whicb includes solar and offshore wind (up from £170 million to £190 million) and a £2 million increase in the budget for emerging technologies such as floating offshore wind (up from £35 million to £37 million). The increase of around 10% comes as one offshore wind developer, Vattenfall, announced it would shelve the Norfolk Boreas offshore wind farm in the face of costs rising by 40%.
The government also promised it would not cancel a £10 million ring-fenced budget for tidal stream projects.
Claire Dykta, Head of Markets for the National Grid Electricity System Operator, said: “Following our evaluation of qualifying projects we welcome the Secretary of State’s decision to revise the budget for Allocation Round 5”.

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