Monday, March 13, 2017

United Kingdom: Opportunity for Deep Geothermal to Compete for Contracts for Renewable Projects

UK BEIS Publishes Contracts for Difference Documents

The United Kingdom Department for Business, Energy & Industrial Strategy (BEIS) has published information on the next Contracts for Difference (CfD) round.

The round will open 3rd April. The strike price for geothermal starts at £140/MWh.

Under the CfD, low carbon electricity generators are incentivised for the power they produce. Companies are able to compete for an initial £290 million worth of contracts for renewable projects under the second round.

It will support “less established” technologies, including offshore wind, anaerobic digestion, biomass with CHP, advanced conversion technologies, wave, tidal and geothermal energy.

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