The Contracts for Difference (CfD) auctions could bring in 12,000 new jobs and over £20 billion of investment, according to RenewableUK. It found that UK-based companies working in the wind industry have announced contracts and investments in new projects worth over £4 billion since lockdown. This has created over 2,000 jobs at a time when economic activity in other sectors is shrinking, RenewableUK said. It went on to say that if the government took steps to ‘maximise’ the economic benefits of renewables and lifted capacity caps for the 2021 CfD auction, it could facilitate 11GW of new onshore and offshore wind. This would then translate into £20 billion of investment and 12,000 new jobs. This comes as a key recommendation issued as part of a new report offering advice to the government on a green COVID-19 recovery.
Current 7th July 2020 read more »