Allocation Round 4 results announced
Today, 7 July, the Department for Business, Energy & Industry Strategy (BEIS) has announced the results of Contracts for Difference (CfD) Allocation Round 4.
A total of ninety-three new renewable electricity projects have won CfDs, which include offshore wind, onshore wind, solar, floating offshore wind, tidal stream and remote island wind. The auction has delivered nearly 11GW of new clean energy to be added to the grid by 2029. Read BEIS' full press release; more about the results on gov.uk.
Next stage for successful applicants
LCCC will be sending out contracts via Docusign to successful applicants on the following dates:
Pot 1: 12 – 15 July 2022
Pots 2 and 3: 15 – 19 July 2022
Generators will have 10 Working Days from contract being issued to return a signed copy to LCCC.
For more information on the contract production process, watch our recent Contract Production webinar.
Watch our webinar on the Initial Conditions Precedent (ICP), the first contractual requirements after signing a Contract for Difference (CfD).
LCCC briefing on AR4 results
LCCC has produced a briefing to illustrate the results of AR4 and their expected impact on the CfD portfolio, once contracts with the successful applicants are signed. Full details are in the link and available to download via the 'Download' button on this page.
Allocation Round 4 – upcoming events
LCCC will be hosting workshops in London and Glasgow for all AR4 winners, providing an opportunity to meet LCCC's Contract Management team and ask any questions. Please note, these events are by invitation only for AR4 winners.
Commenting on the results of AR4, Neil McDermott, LCCC's Chief Executive, said:
“Huge congratulations to all of the contract winners announced today, we’re looking forward to working with you imminently and throughout the coming years. This latest generation of low carbon power projects couldn’t come at a more important time, given the impact of volatile fossil fuel markets on energy prices in the last year and the crucial timing of our actions to counter climate change. The scale and diversity of projects supported through AR4 will provide secure, reliable home-grown power for decades to come, bringing benefits for communities and businesses by modernising electricity generation across Great Britain.”