24 Apr '14, 10pm

UK awards first guaranteed power price contracts to #RenewableEnergy projects:

A project by Drax to convert a coal-fired unit at the U.K.’s biggest power plant to burn biomass was on a list of eight that the Department of Energy and Climate Change said had won the new contracts. A second unit, that had been shortlisted in December, was excluded. Five of the projects were for offshore wind, including three by Dong, one by SSE and a venture between Statoil ASA and Statkraft AS. The contracts are the first under a new assistance system for renewables that will guarantee the price generators will get for their power for 15 years. The government said today that the eight projects will lead to as much as 12 billion pounds ($20 billion) of investment by 2020, supporting 8,500 jobs and adding as much as 4.5 gigawatts of generating capacity. “These contracts for major renewable electricity projects mark a new stage in Britain’s green energy investment boom,” ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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