United Kingdom:

Renewable Energies to Compete for Government Cash (Business Green)

(Courtesy CIA.gov)

Renewable energy projects such as wind, solar power and geothermal energy developments will each year have to compete for a share of £205m under the UK's new clean energy subsidy regime, the government revealed today.

The U.K. Department of Energy and Climate Change (DECC) revealed the long-awaited draft budgets just a day after the European Commission confirmed State Aid approval for the Contract for Difference (CfD) subsidy regime that will deliver the funding by guaranteeing developers prices for the clean power they generate.

As expected, the government has split the budget between established technologies, such as solar power and onshore wind, and immature technologies, such as offshore wind, wave and tidal, advanced conversion, anaerobic digestion, dedicated biomass with CHP, and geothermal.

Developers will be able to bid in auctions for projects that can come online through to 2019, meaning the benefits associated with faster delivery are unlikely to be recognized by the new policy regime.

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