CfD Allocation Round 2 - Results that will blow you away
CfD Allocation Round 2
The Department for Business, Energy & Industrial Strategy (BEIS) recently announced the details of the second Contract for Difference (CfD) Allocation Round.
The Contract for Difference (CfD) Round 2 auction delivered a dramatic reduction in costs for offshore wind.
Key points included:
- Three offshore wind projects were awarded contracts, with two projects clearing at £57.50/MWh (2012 real);
- In total, the Government announced that 11 projects had successfully been awarded a CfD totalling 3.346GW of renewable capacity; and
- 149.95MW of ‘fueled technologies’ were awarded, suggesting the ‘maxima’ of 150MW was triggered.
Despite the high volume of capacity procured, just £176 million, or 60% of the allocated budget, was utilised. These results will have a significant impact for UK energy policy and the energy mix going forward.
Download the latest CfD Allocation Round update for more information.
© 2021 KPMG LLP a UK limited liability partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.
