Success for U.K.'s First Energy Auction

GALWAY, IRELAND--March 11, 2015 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) Renewable energy projects with the potential to supply enough power for more than a million homes have agreed guaranteed prices for the electricity they produce with the U.K. government.

The first auction of Contracts for Difference (CfDs) - the government's tool for agreeing a fixed, or 'strike' price, for electricity produced at new projects - covers more than 2,100-megawatts (MW) of generation capacity and cost £315 million ($474.4 million).