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					</table><p>The <a href="https://www.gov.uk/" target="_blank" rel="noopener">UK government</a> has announced an increase in the maximum price for offshore wind projects to ensure the effectiveness of the Contracts for Difference (CfD) program.</p>
<p>The maximum strike price for offshore wind projects has been increased by 66% to £73 (~$90)/MWh. Floating offshore wind projects will also increase by 52% to £176 (~$218)/MWh.</p>
<p>The maximum price for solar projects will go up by 30% to £61 (~$75)/MWh.</p>
<p>These adjustments are set to take effect in the upcoming CfD Allocation Round 6 scheduled for 2024.</p>
<p>In addition to the adjustments for offshore wind, the government is increasing maximum bid prices for other renewable technologies, offering certainty for developers and ensuring the UK remains at the forefront of clean energy innovation. These adjustments include a 32% increase for geothermal projects to £157 (~$194)/MWh and a 29% increase for tidal projects to £261 (~$323)/MWh.</p>
<p>These price adjustments aim to ensure that renewable projects remain sustainably priced and economically viable, fostering healthy competition in the upcoming auction.</p>
<p>With a separate funding pot allocated to offshore wind projects in recognition of their readiness, the UK aims to achieve its target of up to 50 GW of offshore wind, including 5 GW of floating offshore wind, by 2030.</p>
<p>The decision follows a comprehensive review, considering the latest evidence and the impact of global events on supply chains. The UK is already home to the world&#8217;s fifth-largest operational offshore wind farm projects. UK’s renewable energy generation has increased from 6% in the first quarter (Q1) 2010 to 48% in Q1 of this year.</p>
<p>The CfD program, initiated in 2014, assures energy projects guaranteed prices for the electricity they generate. Contract awards are determined through competitive auctions, favoring the lowest price bids to ensure consumer cost-effectiveness.</p>
<p>In September, the UK <a href="https://www.mercomindia.com/uk-cfd-clean-energy-fifth-round" target="_blank" rel="noopener">allocated</a> CfDs to 95 new renewable energy projects, securing 3.7 GW of clean energy capacity in its fifth allocation round.</p>
<p>Early last year, the country <a href="https://www.mercomindia.com/britain-new-energy-security-strategy" target="_blank" rel="noopener">outlined</a> an Energy Security Strategy to accelerate the deployment of new renewable projects, including wind, nuclear, and solar, to contribute to 95% of the electricity generated.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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UK Increases Offshore Wind Bid Price by 66% and Solar by 30%


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					</table><p><a href="https://www.mercomindia.com/sjvn-18-mw-solar-project-himachal-pradesh-ppa" target="_blank" rel="noopener"><strong>SJVN Green Energy signed a power purchase agreement (PPA) with the Bhakra Beas Management Board (BBMB) for 18 MW solar projects at a tariff of ₹2.63 (~$0.032)/kWh.</strong></a> The projects will be developed on four identified land parcels of BBMB in Himachal Pradesh and Punjab and are scheduled to be commissioned by August 2024. The projects will generate 39.42 MU of electricity in the first year of operation and 917 MU of cumulative energy generation over 25 years. Over the 25-year PPA period, the projects are expected to reduce 44,923 tons of carbon emissions.</p>
<p><a href="https://www.mercomindia.com/seci-disbursements-generators-see-19-6-yoy-rise" target="_blank" rel="noopener"><strong>The Solar Energy Corporation of India paid solar and wind power producers ₹11.45 billion (~$138 million) for the energy purchased in July 2023.</strong></a> The payment reflected a slight 0.23% decrease from the June disbursements. The payments, when compared to the corresponding period in the previous year, surged by 19.6% from ₹9.57 billion (~$115.5 million). In July, disbursements to solar and wind developers constituted approximately 79.61% of the total payments made by the nodal agency.</p>
<p><a href="https://www.mercomindia.com/gujarat-consultancy-tender-pumped-storage" target="_blank" rel="noopener"><strong>Gujarat Urja Vikas Nigam invited bids from consultants to help prepare tender documents and carry out the bidding process to procure energy storage capacity from pumped storage projects on a long-term basis.</strong></a> The last day to submit the bids is October 7, 2023. Bids will be opened on October 11. Bidders must submit a tender processing fee of ₹15,000 (~$181) and an earnest money deposit of ₹50,000 (~$603). The selected consultant must submit a security deposit of 10% of the total contract value within ten days of issuance of the work order.</p>
<p><a href="https://www.mercomindia.com/rajasthan-aims-to-energy-capacity-by-2030" target="_blank" rel="noopener"><strong>Rajasthan unveiled its draft for “Rajasthan Energy Policy 2050,” seeking to transition the state towards a sustainable and eco-friendly economy.</strong></a> One of the policy’s targets is to deploy a combined 90 GW of solar and wind capacity by 2030. This leap in renewable energy capacity is expected to generate employment opportunities for approximately 110,000 individuals, spanning various skill sets required for business development, project design, construction, commissioning, and maintenance. The state also plans to expand its rooftop solar capacity.</p>
<p><a href="https://www.mercomindia.com/g20-tripling-clean-energy-capacity-2030" target="_blank" rel="noopener"><strong>The recently concluded G20 Leaders’ Summit in Delhi called for a dedicated fund for the energy transition efforts of developing countries, phasing down unabated coal power and rationalizing inefficient fossil fuel subsidies.</strong></a> The declaration reaffirmed the commitment of G20 nations to take significant action in increasing sustainable finance. It stressed the vital role of financial support for green and sustainable projects. However, the declaration did not provide a specific roadmap for achieving the necessary $4 trillion annually for a green energy transition by 2030 to reach net zero by 2050.</p>
<p><strong><a href="https://www.mercomindia.com/oriana-epc-29-mw-solar-open-access-karnataka" target="_blank" rel="noopener">Oriana Power, a Noida-based renewable energy company, secured a ₹1 billion (~$12.08 million) contract for the turnkey engineering, procurement, and construction of a 29 MW captive open access solar project for a renowned steel manufacturer in Karnataka.</a> </strong>The project is expected to be commissioned in five months. Oriana Power will oversee all aspects of the project’s lifecycle, from design and engineering to supply and installation. Additionally, the company will provide operation and maintenance services for an entire year after the commissioning of the project. Winning this contract comes on the heels of another recent order worth ₹343.90 million (~$4.14 million) for a 7 MWdc solar power project for a cement company based in Rajasthan.</p>
<p><a href="https://www.mercomindia.com/tata-power-425-million-solar-manufacturing" target="_blank" rel="noopener"><strong>The U.S. International Development Finance Corporation approved $425 million in financing for Tata Power Renewable Energy’s (TPREL) upcoming 4.3 GW greenfield solar cell and module manufacturing facility in Tamil Nadu.</strong></a> The facility, located in the Tirunelveli district, is expected to begin module production by the end of 2023 and cell production by the first quarter of the financial year 2024. TPREL will implement industry 4.0 standards for smart manufacturing in the facility, integrating advanced technologies to enable the production of high-wattage solar modules and cells with higher efficiencies.</p>
<p><a href="https://www.mercomindia.com/ministry-amends-safety-compliance-evs-pli-fame-ii" target="_blank" rel="noopener"><strong>The Ministry of Heavy Industries amended the testing parameters for enhancing the human safety of electric vehicles, incentivized under the production-linked incentive program for automobiles and auto components and the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) II program.</strong></a> The new safety measures will be made mandatory from October 1, 2023, for claiming incentives under the PLI and FAME II programs. The rechargeable electric energy storage system with 100% state of charge will be tested for ingress protection IP X7 as per IEC 60529.</p>
<p><a href="https://www.mercomindia.com/zenobe-secures-fleet-and-battery-storage-expansion" target="_blank" rel="noopener"><strong>Zenobē, a global fleet electrification and battery storage solutions company, secured approximately £600 million (~$643.9 million) in funding from KKR, an international investment firm.</strong></a> The company also received an additional infusion of around £270 million (~$289 million) in equity, which has been contributed by Infracapital, an existing shareholder. Pending the fulfillment of standard closing requirements and regulatory authorizations, KKR and Infracapital are set to become co-majority stakeholders in Zenobē. Meanwhile, Jera and TEPCO Power Grid will continue to hold their positions as minority strategic investors.</p>
<p><a href="https://www.mercomindia.com/uk-cfd-clean-energy-fifth-round" target="_blank" rel="noopener"><strong>The United Kingdom announced the allocation of Contracts for Difference (CfDs) to 95 new renewable energy projects, securing a substantial 3.7 GW of clean energy capacity in its fifth allocation round.</strong></a> In the previous round, 93 projects received CfDs. These projects encompass renewable sources, including onshore wind, solar, and tidal energy developments. For the first time, geothermal projects harnessing natural underground heat sources have secured support through the CfD program. However, offshore and floating offshore wind do not feature in this year’s allocation, aligning with trends seen in countries like Germany and Spain.</p>
<p><a href="https://www.mercomindia.com/energy-major-repsol-wind-firm-connectgen-for-million" target="_blank" rel="noopener"><strong>Madrid-based energy and petrochemical company Repsol acquired ConnectGen, a U.S.-based renewable energy development company, for $768 million from Quantum Capital Group‘s global renewable energy development platform, 547 Energy.</strong></a> ConnectGen’s expertise primarily lies in U.S. onshore wind projects, and its development pipeline encompasses 20,000 MW of onshore wind, solar, and energy storage projects across various stages of maturity. The pipeline represents Repsol’s entry into the U.S. onshore wind industry.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/mercom-staff/" class="vcard author" rel="author"><span class="fn">Mercom Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: SJVN Bags 18 MW Solar Projects in Himachal Pradesh


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					</table><p>The <a href="https://www.gov.uk/" target="_blank" rel="noopener">United Kingdom</a> has announced the allocation of Contracts for Difference (CfDs) to 95 new renewable energy projects, securing a substantial 3.7 GW of clean energy capacity in its fifth allocation round. In the previous round, 93 projects <a href="https://www.mercomindia.com/record-11-gw-renewable-projects-in-united-kingdom" target="_blank" rel="noopener">received</a> CfDs.</p>
<p>These projects encompass renewable sources, including onshore wind, solar, and tidal energy developments. For the first time, geothermal projects harnessing natural underground heat sources have secured support through the CfD program.</p>
<p>However, offshore and floating offshore wind do not feature in this year’s allocation, aligning with trends seen in countries like Germany and Spain. This is attributed to the global rise in inflation and the impact on supply chains, which presented challenges for projects participating in this round.</p>
<p>With a budget allocation of £227 million (~$284 million), these projects are primed to contribute significantly to generating clean, domestically sourced energy, enough to power approximately 2 million homes.</p>
<p>Half of the total capacity will come from solar, while onshore wind projects have secured 1.5 GW of capacity—more than double the number of projects awarded in the previous round.</p>
<p>Furthermore, a dedicated £10 million (~$12.5 million) budget has been set aside for tidal stream projects, resulting in 11 projects with a cumulative capacity exceeding 50 MW. Three geothermal projects have received support, adding 12 MW of capacity, equivalent to powering 2 million homes.</p>
<p>The CfD program, initiated in 2014, assures energy projects guaranteed prices for the electricity they generate. Contract awards are determined through competitive auctions, favoring the lowest price bids to ensure cost-effectiveness for consumers.</p>
<p>According to Graham Stuart, the UK’s Energy and Climate Change Minister, the country&#8217;s clean energy sector has witnessed remarkable growth. “In 2010, renewables accounted for 7% of the country&#8217;s electricity generation. However, by the first quarter of this year, that figure had surged to 48%,” he said.</p>
<p>Stuart also emphasized that the UK aims to build 50 GW of offshore wind capacity by 2030, including up to 5 GW of floating wind technology. “Although offshore and floating offshore wind projects were not included in this year&#8217;s allocation due to global supply chain challenges and inflation, the government remains steadfast in its offshore wind expansion goals,” he said.</p>
<p>In May, the energy industry trade association Energy UK <a href="https://www.mercomindia.com/upcoming-auctions-offshore-wind-target" target="_blank" rel="noopener">warned</a> that the fifth CfD auction will not be sufficient to meet the UK Government’s 2030 target of 50 GW offshore wind capacity.</p>
<p>The UK&#8217;s transition to clean energy is set to attract approximately £100 billion (~$125 billion) in private investment, bolstering the nation&#8217;s journey towards sustainable energy and job creation. By 2030, this transition could generate 480,000 jobs, including 90,000 in the offshore wind sector.</p>
<p>In anticipation of continued progress, the government is already gearing up for the sixth round of auctions scheduled for 2024, marking the second annual auction. It anticipates the future participation of offshore and floating offshore wind projects.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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UK Grants CfDs for 3.7 GW of Clean Energy Projects in Fifth Round


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					</table><p>Energy industry trade association <a href="https://www.energy-uk.org.uk/" target="_blank" rel="noopener">Energy UK</a> has warned that the upcoming Contracts for Difference (CfD) auction will not be sufficient to meet the UK Government&#8217;s 2030 target of 50 GW offshore wind capacity.</p>
<p>There is only 27 GW in operation or receipt of a CfD contract, so future offshore wind developments will almost exclusively have to come through the program. This means the forthcoming auctions must deliver another 23 GW. The Energy UK analysis, however, shows that the program will fall short of achieving this.</p>
<p>The long lead-in times for such projects mean the extra capacity must come from the subsequent three annual auctions, working out at a record 8 GW each round.</p>
<p>However, the upcoming auction is expected to bring forward, at best, 3.2 GW of new capacity, which is 4.8 GW short of the necessary amount.</p>
<p>CfD is a system of reverse auctions introduced in the UK to assure investors the certainty they require to invest in low-carbon electricity generation.</p>
<p><strong><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Offshore-trajactory.png"><img decoding="async" loading="lazy" class="aligncenter wp-image-53593 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Offshore-trajactory.png" alt="Offshore trajectory" width="685" height="385" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Offshore-trajactory.png 685w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Offshore-trajactory-300x169.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Offshore-trajactory-650x365.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Offshore-trajactory-624x351.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Offshore-trajactory-600x337.png 600w" sizes="(max-width: 685px) 100vw, 685px" /></a></strong></p>
<p><strong>The Changing Cost of Offshore Wind</strong></p>
<p>The UK has made remarkable progress in lowering the cost of offshore wind energy through the CfD program, which guarantees a fixed price for electricity generated from renewable sources. Offshore wind costs have fallen by 80% in less than ten years due to the long-term vision and support of the Government.</p>
<p>However, the sector is facing some headwinds that could affect its competitiveness in the future. Factors such as rising inflation, higher borrowing costs, supply chain bottlenecks, and regulatory changes have increased the costs of developing and operating offshore wind projects. The next allocation round, scheduled for this year, may not reflect these cost pressures sufficiently.</p>
<p><strong>Likely Outcomes of the Upcoming Auction</strong></p>
<p>The upcoming auction includes offshore wind along with solar and onshore wind markdown. The capacity delivered will depend on the bids from developers and is limited by the auction budget and the difference between the strike price and reference price.</p>
<p>The strike price is a price for electricity reflecting the cost of investing in a particular low-carbon technology. In contrast, the reference price measures the average market price for electricity in the British market. The CfD program protects developers from volatile wholesale prices by paying them the difference between the strike and reference prices. When wholesale prices are high, developers pay back the difference to reduce the net costs of the program to consumers.</p>
<p>According to Energy UK, due to supply chain pressures and rising capital costs, it&#8217;s unlikely that the strike price for offshore wind will be lower than the previous auction and is capped by the administrative strike price (ASP). Based on possible strike prices of the last auction (£37.35 (~$47.20)/MWh &#8211; £44 (~$55.6)/MWh), a maximum of 3.2 GW could be secured, assuming 100% of the budget is allocated to offshore wind.</p>
<p><strong>The consequences of missing capacity</strong></p>
<p>Since only 3.2 GW is expected to be secured, the UK will have to rely on gas to fill the gap. This would incur additional costs of £530 million (~$700 million) per year to consumers on their electricity bills by 2030, resulting in 6 million tons of carbon emissions annually.</p>
<p><strong>Following Auctions</strong></p>
<p>The following auction round is unlikely to deliver the required offshore wind capacity as the budget is £80 million less than the previous round, and offshore wind is competing with other established technologies for less funding.</p>
<p>Moreover, the price cap for offshore wind is set at a lower than the average clearing price witnessed in the previous round. The ASP is supposed to act as a safety net to prevent excessive bids. Still, it does not consider the recent cost increases developers face due to supply chain constraints, rising raw material prices, and COVID-19 impacts.</p>
<p>The ASP also does not account for the higher costs of developing projects in deeper waters and further from shore, which is expected to dominate the pipeline in the upcoming auction.</p>
<p><strong>Recommendations to Reduce the Shortfall </strong></p>
<p>Energy UK has outlined three key recommendations for the upcoming autumn budget, including revisiting and increasing the budget of the upcoming auctions for CfD; raise the ASP, as it does not reflect the increased costs and risks of developing and building critical infrastructure projects in the current climate; a robust response to increased global competition for clean energy from the U.S. and EU, which have announced ambitious plans and policies to accelerate the transition to a green economy.</p>
<p>UK government had announced that it would <a href="https://www.mercomindia.com/uk-sustainability-weightage-renewable-bids" target="_blank" rel="noopener">introduce</a> non-price factors in its CfD program for renewable energy projects as a major shift from the cost-only model to ensure the viability of such projects in the long term.</p>
<p>Early last year, the country <a href="https://www.mercomindia.com/britain-new-energy-security-strategy">outlined</a> an Energy Security Strategy to accelerate the deployment of new renewable projects, including wind, nuclear and solar, to contribute to 95% of the electricity generated and aimed at installing 70 GW of solar capacity by 2035.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Upcoming Auctions May Not Meet UK’s 50 GW Offshore Wind Target by 2030


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					</table><p>The <a href="https://www.gov.uk/" target="_blank" rel="noopener">UK government</a> will introduce non-price factors in its Contracts for Difference (CfD) program for renewable energy projects as a major shift from the cost-only model to ensure the viability of such projects in the long term.</p>
<p>The new approach could mean that applicants would have to show how their projects would help improve the supply chain sustainability, address the skills gaps, foster innovation, and enhance the sector&#8217;s system and grid flexibility and operability.</p>
<p>It is also expected to encourage more investment in the sector, create more jobs, and improve the country&#8217;s energy security.</p>
<p>The government will open the proposal for comments from the industry stakeholders about a new idea to evaluate bids on their cost-effectiveness and wider benefits for the renewable energy sector.</p>
<p>It will analyze the responses for a proposed Call for Evidence and consult on any suggested program changes if they are more effective than other policy options.</p>
<p>This Call for Evidence is part of the government&#8217;s work to continue to evolve the CfD program as it considers long-term market arrangements through the Review of Electricity Market Arrangements. The proposed reforms could help drive further investment in renewable energy deployment and improve energy security in the UK.</p>
<p>The CfD program awards contracts to renewable energy generators, such as offshore wind farms, based on their bid price, which has previously helped drive down the green tariffs in the country.</p>
<p>The program has successfully lowered renewable energy prices since the first auction in 2015, with the offshore wind price falling by almost 70% by 2022. The program has supported new low-carbon projects in Britain with a total capacity of 26.1 GW.</p>
<p>By investing more in supply chain sustainability, the sector could reduce its environmental impact and secure the resources and materials it needs for long-term growth. By investing more in skills development, the industry could train more technicians to build and maintain more advanced renewable energy generators.</p>
<p>Minister of State for Energy Security and Net Zero Graham Stuart said that the government wants to go further to ensure it maximizes the program&#8217;s potential to improve energy security and provide renewable energy developers who can make the necessary investment in supply chains and innovation, ultimately making for a more robust sector and helping the economy to grow.</p>
<p>The CfD program has helped the UK diversify, decarbonize, and domesticate its energy supplies, securing almost 11 GW of low carbon capacity in the last round &#8211; enough to power 12 million British homes.</p>
<p>The government has also committed a further budget of £205 million (~$254 million) to the program for the fifth allocation round, demonstrating its continued support for green industries and jobs. Since late 2020, the program has attracted billions of pounds in private investment and supported 68,000 green jobs nationwide.</p>
<p>The UK government is also <a href="https://www.mercomindia.com/uk-follows-european-carbon-price-on-imports" target="_blank" rel="noopener">considering</a> various policy options to prevent carbon leakage. One of these options is a carbon border adjustment mechanism, which would impose a carbon tax on imports based on their carbon content.</p>
<p>Early last year, the country <a href="https://www.mercomindia.com/britain-new-energy-security-strategy" target="_blank" rel="noopener">outlined</a> an Energy Security Strategy to accelerate the deployment of new renewable projects, including wind, nuclear and solar, to contribute to 95% of the electricity generated and aimed at installing 70 GW of solar capacity by 2035.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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UK Mulls Introducing Sustainability Weightage for Renewable Project Bids

<p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>State-owned </strong><a href="https://www.thdc.co.in/" target="_blank" rel="noopener"><strong>THDC India</strong></a><strong> has signed a Letter of Intent to build 10 GW solar power projects entailing an investment of ₹100 billion (~$1.33 billion) in Rajasthan. </strong>The Government of Rajasthan will allocate the land bank through Rajasthan Renewable Energy Corporation Limited (RRECL). The renewable energy parks will be implemented through a special purpose vehicle in terms of a joint venture company with RRECL in the ratio of 74:26. The project will be commissioned between the third and fifth year in a phased manner. These mega ventures by THDC India and RRECL will boost the socio-economic development of the project areas and also bring in cheap solar electricity in the region. With the above intent of investment in the energy sector by THDC India, it is expected that around 10,000 direct and indirect employment opportunities will be created during the peak time of construction, which will boost the local economy.</p>
<p><strong>The </strong><a href="https://powermin.gov.in/" target="_blank" rel="noopener"><strong>Ministry of Power</strong></a><strong> issued amendments to the guidelines for tariff-based competitive bidding process for procurement of round-the-clock power</strong> from grid-connected renewable energy power projects, complemented with power from any other source or storage. As per the amendment, bidders will be selected based on the least quoted weighted average levelized tariff. The bidder (L1 bidder) quoting the least weighted average levelized Tariff (L1 tariff) will be allocated the capacity of power they offer. Suppose the allocated capacity is less than the total capacity to be contracted. In that case, the capacity allocation will be based on bucket filling, i.e., capacity quoted by the L1 bidder at L1 rates will be allocated first. Then the capacity quoted by the next lowest bidder (L2 bidder) at the rates quoted by him (L2 rates) will be allocated until the tendered capacity is fully exhausted.</p>
<p><strong>The Commission for Air Quality Management in NCR and Adjoining Areas (CAQM) </strong><a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=1796903" target="_blank" rel="noopener"><strong>directed</strong></a><strong> the industries </strong>located in the National Capital Region (NCR) of Haryana, Uttar Pradesh (UP), and Rajasthan to switch to piped natural gas (PNG) or biomass fuel. The order was directed at companies that have still not shifted to PNG or other cleaner fuels despite the availability of natural gas infrastructure and supply. Industries located in the NCR of Haryana, UP, and Rajasthan, will have to completely switch over to PNG or biomass fuels by September 30, 2022. Non-switchover will result in the closure of industries using other fuels. Until the transition to fuels as above is affected, such industries will use only fuels approved by the respective state governments for industrial operations.</p>
<p><strong>Telecommunication company T-Mobile </strong><a href="https://www.prnewswire.com/news-releases/nexamp-and-t-mobile-announce-community-solar-energy-partnership-301477654.html" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a long-term agreement with Nexamp to participate in a community solar program </strong>qWith subscriptions to ten separate Nexamp solar farms representing more than 50 MW of total project capacity across Maine, Massachusetts, and New York, T-Mobile will receive savings through the discounted credits applied to its electric bills. Local electric customers interested in clean energy can subscribe to these projects and receive discounts on their bills. NRG served as the RFP consultant for T-Mobile, which selected Nexamp for its community solar portfolio. Nexamp will be the long-term owner of the projects.</p>
<p><strong>The UK Government will </strong><a href="https://www.gov.uk/government/news/government-hits-accelerator-on-low-cost-renewable-power" target="_blank" rel="noopener"><strong>change</strong></a><strong> the frequency of its Contracts for Difference (CfD) scheme to every year rather than every two years to accelerate the roll-out of renewables. </strong>The Government said the move would support renewable electricity producers and boost the UK&#8217;s renewable energy infrastructure. CfDs are the Government&#8217;s primary method of supporting renewable energy, driving down the cost of technologies and playing an essential role in leveraging £90 billion (~$122.12 billion) of private investment by 2030. The auction scheme has already proved successful at bringing down the per-unit price of offshore wind by around 65% since the first auctions were held &#8211; helping the UK become one of the world&#8217;s largest wind power generators. In the last allocation round, 12 new contracts were awarded, with the potential for nearly 6 GW of additional capacity.</p>
<p><a href="https://kpigil.com/" target="_blank" rel="noopener"><strong>KPI Global Infrastructure</strong></a><strong> bagged an order from Greenlab Diamonds LLP for executing solar power projects of 25 MWdc capacity under the captive power producer segment.</strong> Earlier, the company had bagged orders from Veekey Prints, Priyanshi Creations, and Navnidhi Dyeing and Printing Mills for executing solar power projects of 2.964 MWdc capacity under the captive power producer segment.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Daily News Wrap-Up: THDC India Signs LoI to Set Up 10 GW of Solar Projects in Rajasthan

<p>The <a href="https://www.gov.uk/" target="_blank" rel="noopener">U.K. Government</a> will infuse £265 million (~$366 million) to support renewable energy projects in the upcoming Contracts for Difference (<a href="https://www.gov.uk/government/publications/contracts-for-difference/contract-for-difference" target="_blank" rel="noopener">CfD</a>) auction. CfDs are 15-year private contracts between renewable energy generators and the government-owned &#8211; Low Carbon Contracts Company (<a href="https://www.lowcarboncontracts.uk/" target="_blank" rel="noopener">LCCC</a>) that manages CfDs.</p>
<p>The CfD program incentivizes investment in renewable energy by providing project developers with high upfront costs and long lifetimes with protection from volatile wholesale prices.</p>
<p>For the first time since the launch of CfDs in 2015, established technologies, including onshore wind and solar, will also participate in the bidding process. The previous round of the CfD program <a href="https://mercomindia.com/renewable-program-increase-generation/" target="_blank" rel="noopener">delivered</a> record-low prices and secured enough clean energy to power over seven million homes.</p>
<p>The CfD program has also reduced the price of offshore wind by around 65%. The UK aims to double its renewable electricity capacity secured in the third round and generate more than the previous three rounds combined. In all, £265 million(~$366 million) will be provided to businesses in the program&#8217;s fourth round.</p>
<p>The additional offshore wind capacity resulting from the funding alone could power around 8 million homes.</p>
<p>Renewable energy developers will bid for a share in a £265 million(~$366 million) subsidy pot. Pot 1 includes established technologies such as onshore wind, solar photovoltaic (PV), and hydropower, and £10 million (~$ 13.83 million) will be provided for these projects. A cap of 5 GW is imposed on the total capacity, with maximum capacity limits of 3.5 GW on both onshore wind and solar PV.</p>
<p>Pot 2 includes less established technologies like floating offshore wind, tidal stream, geothermal, and wave, and £55 million (~$76.06 million) will be made available for these technologies. Meanwhile, £24 million (~$33.19 million) of the total  £55 million (~$76.06 million) will be earmarked for floating offshore wind projects.</p>
<p>Under pot 3 covering offshore wind, £200 million (~$276 million) will be provided.</p>
<p>The funding is expected to help UK achieve its target of 40 GW of capacity by 2030. The budget figures are based on 2011-2012 prices.</p>
<p>The CfD program has boosted the success of the UK&#8217;s world-leading offshore wind industry. As per the Prime Minister&#8217;s <a href="https://mercomindia.com/uk-to-invest-12-billion/" target="_blank" rel="noopener">Ten Point Plan for a Green Industrial Revolution</a>, the offshore wind sector could support up to 60,000 jobs by 2030.</p>
<p>&#8220;The CfD program has helped the UK become a world leader in clean electricity generation and lowered prices for consumers,&#8221; said Anne-Marie Trevelyan, UK Energy Minister.&#8221; The new plans set out today deliver on the Prime Minister&#8217;s &#8216;Ten Point Plan&#8217; and support the next generation of renewable electricity projects needed to power our homes and meet our world-leading climate change targets.&#8221;</p>
<p>Recently, UK had <a href="https://mercomindia.com/uk-invest-india-renewable-energy/" target="_blank" rel="noopener">announced</a> that it will invest $1.2 billion through public and private investments in green projects and renewable energy in India to support the latter&#8217;s target of 450 GW of renewable energy by 2030.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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The UK Infuses £265 Million to Support Renewable Energy Projects

<p>The United Kingdom is one of the first few major economies to announce that it would cut emissions to net-zero by 2050. This is a landmark decision, and it confirms the country&#8217;s role in the international effort to bring an end to climate change.</p>
<p>The competitive nature of the Contracts for Difference (<a href="https://www.gov.uk/government/publications/contracts-for-difference/contract-for-difference" target="_blank" rel="noopener noreferrer">CfD</a>) program has been successful in driving a substantial number of renewable projects in Great Britain and, in the process bringing down the cost of electricity. The CfD program is the <a href="https://www.gov.uk/" target="_blank" rel="noopener noreferrer">government&#8217;s</a> primary mechanism for supporting low-carbon electricity generation in the country.</p>
<p>Last year in September, the country awarded nearly 5.8 GW of new renewable energy at prices well below the administrative strike prices (ASPs) for each of the technologies. This led to a fall in wind prices by 30% from the previous allocation round in 2017.</p>
<p>To attain net-zero emissions by 2050, the Prime Minister set out new plans to make the UK the world leader in clean wind energy. The government also set a new target for offshore wind, increasing the capacity from 30 GW of offshore wind to 40 GW by 2030, and an ambitious 1 GW of this new target will come from floating offshore wind. This latest announcement will include investments of £160 million (~$213.7 million).</p>
<p>The UK recently <a href="https://mercomindia.com/uk-to-invest-12-billion/" target="_blank" rel="noopener noreferrer">announced</a> a ten-point plan for a green industrial revolution to advance the country towards net-zero emissions. Under the program, the government will provide funding worth £12 billion (~$15.95 billion) for its implementation and create up to 250,000 new green jobs. The government anticipates three times more investment from the private sector to support the new plan.</p>
<p>The UK recently published a consultation paper on the proposed changes to the CfD program. The consultation was due to close on May 22, 2020, but was later extended to May 29, 2020. Later, on October 06, 2020, it confirmed that the next allocation would take place in late 2021.</p>
<p>The country is also considering maintaining separate pots in the next allocation round to ensure that the CfD program supports a significant low-cost renewable generation in the future. The government noted that separating offshore wind projects that are generally much bigger and have lower costs will allow more appropriate parameters to be set for each pot and reduce the risk of sub-optimal auction outcomes.</p>
<p>The final pot structure for next year&#8217;s allocation round will be as follows:</p>
<ul>
<li>Pot 1 (established technologies): onshore wind (&gt;5MW), solar photovoltaic (PV) (&gt;5MW), hydro (&gt;5MW and 5MW)</li>
<li>Pot 2 (less established technology): biomass with combined heat and power (CHP) systems, floating offshore wind, geothermal, remote island wind (&gt;5MW), tidal stream, wave</li>
<li>Pot 3 (offshore wind): offshore wind</li>
</ul>
<p><strong>Floating Offshore Wind Projects          </strong></p>
<p>The country had also sought views on defining floating offshore wind as a distinct eligible technology under the CfD program. The government confirmed widespread support for the proposal of considering floating offshore wind as a distinct technology. Considering the consultation responses, the government said it would define floating offshore wind as a specific technology within the CfD. The government also said that the CfD contract for floating offshore wind would be similar in most respects to the terms that apply to offshore wind.</p>
<p>It has proposed to extend the program to March 31, 2035, by amending the CfD regulations 2014.</p>
<p>Having taken into account the responses to the consultation, the government said that it intended to follow through with its plans to develop criteria based on the aims and objectives of the industrial strategy&#8217;s five foundations, aligning supply chain plans to support broader government priorities and maximizing the benefits of achieving net-zero.</p>
<p><strong>Coal to Biomass Conversions</strong></p>
<p>The government had also invited suggestions on excluding coal-to-biomass conversions from future allocation rounds of the program.</p>
<p>After going through the consultation responses, it said it would proceed with the changes required to exclude new coal-to-biomass conversions from future CfD allocation rounds. The country is developing a new cross-government biomass strategy that will look at how biomass should be sourced and used across the economy to best contribute to our net-zero target.</p>
<p><strong>Storage</strong></p>
<p>In the consultation, the perceived barriers to storage were also discussed. The government said that it supported the deployment of storage within the electricity network. This flexibility benefits consumers through reduced network management costs and improved integration of renewables generation.</p>
<p>On the issue of the current limit on offshore wind projects, it said that the current limit on offshore wind projects is of an appropriate cap-size, and the 1,500 MW cap should be maintained.</p>
<p>The government also noted that since the CfD allocation round one, there has been a general trend for larger offshore wind projects. Increasing the cap on phased projects could harness economies of scale. However, the extent and scale of potential savings remain uncertain.</p>
<p>&#8220;We are aware that several offshore wind projects greater than 1,500 MW have, or are seeking consent. Increasing the phasing cap to accommodate larger projects such as these could see greater levels of offshore wind capacity supported through the CfD in the future,&#8221; the statement added.</p>
<p>In March 2020, the UK <a href="https://mercomindia.com/united-kingdom-co-chair-india-led-climate-change-initiative/" target="_blank" rel="noopener noreferrer">said</a> that it would co-chair the governing council on the India-led global &#8216;Coalition for Disaster Resilient Infrastructure.</p>
<p>Last year, the UK also joined the International Solar Alliance (ISA). The ISA is an <a href="https://mercomindia.com/isa-international-intergovernmental-organization/" target="_blank" rel="noopener noreferrer">Indian initiative</a> that was jointly launched by Prime Minister Modi and former French President Hollande on November 30, 2015, in Paris.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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