Britain ups renewable power auction budget to 1.5 bln pounds
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 30 2024
0mins
Source: Reuters
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.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.








