Amber Renewables’ Post

It's great to see the UK commit to a step-up in renewable energy with the announcement of 9.6GW today, including 9 major offshore wind projects. There's clearly still more that's needed to achieve energy security, but this is a big step and one that will enable teams of people to start focusing on delivery.

The REA welcomes today’s announcement from Department for Energy Security and Net Zero on the record sums secured in the latest round of auctions for #renewableenergy. The £1.5 billion auction will back 131 projects, including wind farms, solar farms, and tidal energy projects. This comes after the new government raised the funding to seven times the amount provided last year. Mark Sommerfeld, our Deputy Director of Policy: “Today’s #CfD Auction results underscore the critical importance of investing in homegrown renewable energy. By securing record levels of #solar and #offshorewind at competitive strike prices, the UK is advancing towards a secure, decarbonised, and affordable energy system. This progress will deliver real returns, creating jobs and shielding consumers from the volatility of international fossil fuel markets that have been the root of the energy crisis." "Along with celebrating these results, we also highlight the importance of looking to future CfD allocation rounds. With delivery dates for projects in this auction already going out to 2029, it is a reminder of the limited time available to contract the generation needed to meet the Government’s 2030 Clean Power Mission. Additionally, not all the technologies required for #netzero have fully benefited from the CfD framework. For instance, #geothermal power still lacks robust support, and there is also an opportunity to extend the life of existing low-carbon generation assets nearing the end of their current contracts through the CfD, preventing the premature loss of critical renewable generation.” our statement: https://lnkd.in/epJapEnm

Big results today for renewables. Below are my two pennies worth adding to the valuable LinkedIn commentary. These results are to be welcomed and praised, they push the sector forward and deliver new generation at competitive strike prices. Good for energy security. Good for consumers. Looking to the future, the CfD could still be doing more: 1) Some innovative technologies in Pot 2 are still not able to clear and should be supported to do so. e.g. Geothermal Power 2) With AR6 delivery dates between 2026 - 2029, we need a clear rolling timetable for future allocations if the 2030 Clean Power Mission is to be realised. 3) AR 7 needs to include repowering CfDs for existing projects coming to the end of their renewable obligation contracts, otherwise, we risk only building new capacity to replace that which is being lost.

Another piece of good news for the Energy Industry! 🍃🍃 Research suggests that the additional funding for the AR6 budget could add 1.2GW of new offshore wind compared to the original budget, with 4.3GW of offshore wind expected to get contracts (Source: Cornwall Insight). This would be a big improvement after the previous AR5 round and, in line with the string of energy-related announcements from the Government so far, a step in the right direction. https://lnkd.in/gpD2ae4C

Great Britain’s renewable energy auction has secured enough new clean electricity projects to power 11m UK homes after the Labour government made record funding available to suppliers.   The £1.5bn auction will support 131 new projects including solar farms and tidal power projects, with the bulk of funding awarded to offshore windfarms - generating clean electricity for more than 3m UK homes before 2030.   Expected to bring forward a record-breaking amount of clean energy, this will eventually mean lower energy bills for consumers and will support the decarbonisation of the National Grid.   PAH regularly installs energy-saving products and renewable innovations, such as air source heat pumps, in its refurbishment projects across the UK.   These strides forward in promoting clean energy are an encouraging step towards minimising our energy consumption and reducing our carbon footprint.   Read the full story in the Guardian here: https://lnkd.in/eqb_wSfZ

'Biggest budget yet': Government announces record £1.5bn for CfD clean energy auction UK’s Clean energy auction budget increased by more than 50% following 2023 'catastrophe' that saw no new offshore wind projects secured. The UK's green energy sector will bid for a record-breaking £1.5bn of support through the next Contract for Difference (CfD) auction, after the government today confirmed it would increase the budget for the scheme by more than 50%. Energy Security & Net Zero Secretary Ed Miliband will today announce the budget for this year's auction - Allocation Round 6 (AR6) - will be increased by over £500m, a rise of more than 50%.The boost means the budget is 7 times higher than AR5 last year, which dealt a major blow to the UK's clean power project pipeline by failing to attract any bids from offshore wind developers. The new budget includes £1.1bn ring-fenced for offshore wind projects, meaning there is more budget available for the sector than in all of the previous auctions combined. It also includes £185m for established technologies such as onshore wind & solar projects - an increase of £65m on the previous budget - while £270m has been allocated to emerging technologies such as floating offshore wind and tidal projects, representing an increase of £165m on the previous budget. The update comes after experts warned earlier this month that an increased budget would be needed if climate and clean energy targets for 2030 are to be met. The budget for the scheme - which is paid for through levies on power bills, not taxpayers - helps cover the difference between the guaranteed prices and wholesale prices. Crucially, generators pay back the difference to billpayers if wholesale prices exceed strike prices, meaning the scheme can result in lower energy bills for consumers as renewable energy costs fall. Increased renewables generation also results in reduced gas imports, which should feed through into lower energy bills. The government today announced the maximum strike price for offshore wind in the latest auction will be set at £73/MWh, with onshore wind at £64/MWh, solar at £61/MWh, floating offshore wind at £176/MWh, geothermal at £157 MWh, and tidal at £261/MWh. AR6 is set to take place in August, with successful projects announced in September. Analysts suggested the increased budget could result in around 6GW of new capacity being secured, up from previous estimates of around 4GW. My View - a great start by the new government, but there is much more work to do on a consistent basis! What do you think? Original article by businessgreen .com #offshorewind #floatingwind #windenergy https://lnkd.in/eK7nHrYC

'Biggest budget yet': Government announces record £1.5bn for CfD clean energy auction UK’s Clean energy auction budget increased by more than 50% following 2023 'catastrophe' that saw no new offshore wind projects secured. The UK's green energy sector will bid for a record-breaking £1.5bn of support through the next Contract for Difference (CfD) auction, after the government today confirmed it would increase the budget for the scheme by more than 50%. Energy Security & Net Zero Secretary Ed Miliband will today announce the budget for this year's auction - Allocation Round 6 (AR6) - will be increased by over £500m, a rise of more than 50%.The boost means the budget is 7 times higher than AR5 last year, which dealt a major blow to the UK's clean power project pipeline by failing to attract any bids from offshore wind developers. The new budget includes £1.1bn ring-fenced for offshore wind projects, meaning there is more budget available for the sector than in all of the previous auctions combined. It also includes £185m for established technologies such as onshore wind & solar projects - an increase of £65m on the previous budget - while £270m has been allocated to emerging technologies such as floating offshore wind and tidal projects, representing an increase of £165m on the previous budget. The update comes after experts warned earlier this month that an increased budget would be needed if climate and clean energy targets for 2030 are to be met. The budget for the scheme - which is paid for through levies on power bills, not taxpayers - helps cover the difference between the guaranteed prices and wholesale prices. Crucially, generators pay back the difference to billpayers if wholesale prices exceed strike prices, meaning the scheme can result in lower energy bills for consumers as renewable energy costs fall. Increased renewables generation also results in reduced gas imports, which should feed through into lower energy bills. The government today announced the maximum strike price for offshore wind in the latest auction will be set at £73/MWh, with onshore wind at £64/MWh, solar at £61/MWh, floating offshore wind at £176/MWh, geothermal at £157 MWh, and tidal at £261/MWh. AR6 is set to take place in August, with successful projects announced in September. Analysts suggested the increased budget could result in around 6GW of new capacity being secured, up from previous estimates of around 4GW. Our View - a great start by the new government, but there is much more work to do on a consistent basis! What do you think? Original article by businessgreen .com #offshorewind #floatingwind #windenergy https://lnkd.in/ebsdQEif

Today marks a significant step forward in the UK's journey towards a greener future. The sixth round of the UK government's renewable energy auction has secured enough new projects to power 11 million homes, with a record £1.5 billion in funding awarded to a diverse mix of wind, solar, and tidal energy projects. This auction is the largest of its kind and will support 131 new clean energy initiatives. The auction results reflect the government's plans to accelerate the energy transition, with the goal of doubling onshore wind, tripling solar power, and quadrupling offshore wind capacity by 2030. However, there is still a way to go before we meet these targets, since the auction secured only half of the offshore wind capacity needed annually to stay on track. Energy storage is absolutely necessary in maximising the potential of these new renewable projects. Without effective storage solutions, we can't fully harness the benefits of renewable energy. If we cannot store the surplus energy produced during times of peak generation but low power demand, it will be wasted. Investing in a holistic energy storage system and expanding the grid infrastructure is essential to ensure that every GW of clean energy is efficiently utilised. In doing so, we would see reduced costs and enhanced energy security without fossil fuel reliance. Today's auction results are a promising indicator of progress; the UK's energy sector is on the cusp of a renewable revolution. This auction's increased competitiveness compared to previous years also highlights that clean energy is not only feasible, but economically advantageous for investors. As we move forward, the focus must remain on expanding renewable capacity and deploying energy storage solutions to fully harness the potential of our clean energy resources. Read more on the auction results here➡️ https://lnkd.in/eqb_wSfZ #RenewableEnergy #Sustainability #CleanEnergy #EnergyStorage #UKEnergyTransition #GreenFuture #NetZero #EnablingRenewables

🌬️ The UK Secures Nine New Offshore Wind Farms in Renewables Auction! 🌍 Great Britain is taking a major leap towards a greener future with the announcement of nine new offshore wind farms following the Government’s latest auction. These new projects include what will become Europe’s largest and second-largest wind farms, #Hornsea3 and #Hornsea4, both off the Yorkshire coast. ⚡🌀 🔋 Record-breaking Green Power Projects: These new developments, combined with onshore wind and solar projects, are expected to generate enough energy to power 11 million homes, marking the most successful renewables auction in British history. 🏠🏠 (link below) 📈 Energy Capacity and Challenges:  - The latest auction will add approximately 9.6GW of renewable energy capacity, with 5GW from offshore wind. However, this is lower than the 11GW from the 2022 auction and is still only half of what is needed annually to reach the Government's goal of 50GW of offshore wind power by 2030. 💼💡 💬   - Keith Anderson, CEO of ScottishPower, highlighted that offshore wind is now "back on track after last year's misstep." 📊 - Dan McGrail, CEO of RenewableUK, commented that Britain is "back in the global race for clean energy investment," but stressed that future auctions will require "a big step-up" to hit 2030 targets. 🚀 - 🏛️ The Government has renewed commitment as Energy Secretary Ed Miliband sais the action is a "major step forward" in the quest to make Britain a clean energy superpower and stabilize energy security. The Government's decision to end the de facto ban on onshore wind and establish Great British Energy, a state-owned energy investment firm, reflects a strong push toward sustainable energy development. 🌱🔄 #RenewableEnergy #OffshoreWind #GreenTransition #CleanEnergy #Sustainability #UKEnergy #EnergyTransition #WindPower #ClimateAction Mark Jacobson Prof. Peter Strachan Ørsted Eurelectric

👏👏 Excellent News 👏👏 The UK Government's latest renewable energy auction has secured a record-breaking 131 projects, including Europe's largest wind farms, Hornsea 3 and 4. These projects will power 11 million homes, significantly boosting the country's renewable energy capacity. However, the total capacity is still only half of what’s needed annually to meet the 2030 offshore wind target. While this marks progress, environmental groups stress the need for even greater investment in future auctions to meet climate goals and ensure energy security.