Renewable energy developer Low Carbon has announced plans for a 138MW onshore wind farm in Scotland, and suggested it could have major benefits to the local community.
The record-breaking results of the government’s Contracts for Difference (CfD) sixth auction round (AR6) have been well received across the UK renewable energy industry.
The flagship renewable power auction, known as Contracts for Difference, has published the results of its Auction Round 5 (AR5), revealing that just 3.7GW of projects have been awarded funding.
Low Carbon has announced it’s received an up to £400 million capital commitment from Massachusetts Mutual Life Insurance Company to be directed at large-scale renewable energy projects in the UK.
The UK Government must set a “realistic budget and more sustainable prices” for renewable electricity in the upcoming Contracts for Difference (CfD) auction to prevent limited private investment in solar and wind generation, RenewableUK said.