The results confirm that the fourth Contracts for Difference (CfD) auction is the most successful yet.
Ninety-three new low-carbon electricity projects across Great Britain have won contracts in the fourth CfD auction (AR4) – more than in the previous three auctions combined.
The results, which have been published this morning, also confirm that the auction has delivered record generating capacity, nearly 11GW – almost double (+87%) what was achieved in the last auction in 2019.
That’s enough to generate sufficient electricity to power around 12 million homes.
More renewable technologies have been successful in AR4 than ever before, including offshore wind, onshore wind, solar, remote island wind, and – for the first time ever – tidal stream and floating offshore wind.
AR4 has also delivered a further reduction in offshore wind strike prices. The price per MWh of offshore wind has now fallen by almost 70% since the first CfD auction in 2015.
The successful AR4 projects will bolster Britain’s energy security and further diversify its energy mix away from expensive fossil fuels, reflecting the commitments made in the British Energy Security Strategy.