Feb 15 (Renewables Now) - The UK government last week published a draft allocation framework for the second Contracts for Difference (CfD) auction that will begin on April 3.
In November 2016, the government released a number of documents related to the upcoming auction and confirmed the budget of GBP 290 million (USD 362m/EUR 342m) annual support for less established technologies, including offshore wind.
Last week, the Department for Business, Energy & Industrial Strategy (BEIS) also published updated draft terms and contract documents to provide early visibility of the contracts developers will be signing if they bid successfully in the auction. It expects to publish the final versions on March 6.
Offshore wind developers will be able to sign phased contracts for a total capacity of up to 1,500 MW to be delivered in up to three phases. The first phase must be at least 25% of а project'с capacity and should be completed by the end of March 2023. The last phase should be completed no later than two years after that.
Amended CfD regulations have now been laid before Parliament and will become effective on March 1.
(GBP 1.0 = USD 1.247/EUR 1.178)