UK Doubles Down On Wind And Solar With More Than $370 Million In Funding

OilPrice.com | Dec 13, 2021 at 10:30 AM
  • The UK is launching today what it calls the biggest ever round of its renewable energy support scheme, worth some $377 million (285 million pounds).
  • The British government launched this round of the contracts for the difference scheme in the hopes of stimulating the development of renewable energy capacity of as much as 12 GW.
  • The recent price surge in natural gas shook the UK economy, sinking a number of electricity utilities and forcing the country to restart a coal plant in order to secure the nation’s energy supply.