The sixth renewables auction has delivered a new record of 131 energy projects, a major advance on the 2023 round that failed to secure any.

The latest auction for Contracts for Difference will secure another 9.6GW of new renewable energy capacity for the UK, roughly 9 per cent of the UK’s total current electricity capacity (107.5GW) and bring over £14bn of new private investment into the economy.

The stampede of bids follows the Government’s increase in budget by 50 per cent funding uplift and seven times bigger than the previous round.

Under Allocation Round 6 (AR6) nine offshore contracts were awarded including securing both what will be Europe’s largest and second largest windfarm projects, Hornsea 3 and Hornsea 4 off the Yorkshire coast and solar was another big winner. These nine offshore wind projects totalling 4.9GW have secured contracts at a cost of £54-59 per MWh. The price is in line with other recent auctions globally and reflects the dual impacts of inflation and financing costs due to high interest rates.

In addition, 22 onshore wind projects (990MW) were successful this year at £50.90/MWh, confirming that it is one of the UK’s cheapest sources of new power, along with 3.2GW of solar capacity at a similar price.

The auction also saw the UK extend its global leadership in marine energy as six new tidal stream projects totalling 28MW secured contracts in Scottish and Welsh waters.

Energy Secretary Ed Miliband said: “Today we have now achieved a record-setting round for enough renewable power for 11 million homes, essential to give energy security to families across the country. It is another significant step forward in our mission for clean power by 2030, bringing Britain energy independence and lower bills for good.

The greenlit projects include: the largest offshore windfarm project in Europe - the Hornsea 3 project off the Yorkshire coast, the largest floating offshore wind project in the world to reach market, Green Volt, six new tidal projects, and a combined 115 solar and onshore wind projects.

RenewableUK’s chief executive Dan McGrail said: “The success of today’s auction sends a clear signal that the UK is back in the global race for clean energy investment. This wide range of projects, across technologies, are vital steps in building a clean, affordable energy system and reducing our dependence on expensive fossil fuels.”

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