Britain ups renewable power auction budget to 1.5 bln pounds

Increased Renewable Power Budget: The UK government has raised the budget for its renewable power auction by 50% to £1.5 billion, aiming to decarbonize the electricity sector by 2030 and support various renewable projects through Contracts for Difference (CfDs).

Investment and Industry Response: The increased funding is expected to attract significant private investment, create jobs, and enhance energy security; however, analysts express concerns that it may still fall short of meeting ambitious offshore wind capacity targets.