Lightsource bp UK's CEO Responds to CfD Auction Announcement
Lightsource bp CEO Nick Boyle has responded to the announcement of CfD Auction
Lightsource Renewable Energy has been awarded a Contract for Difference (CfD) for its 14.67MW Charity Farm solar project in the first round of the government’s new competitive auction system for clean energy support contracts.
The Charity Solar Farm was one of just five solar projects that was successful in the CfD auction.
Lightsource CEO, Nick Boyle, responded to the announcement. Nick said : “At Lightsource, we are very concerned that the government is somewhat naive in preparing the UK for a financially sustainable future. Their CFD announcement demonstrates this perfectly as we see the solar industry’s minimal award of 72MW compared with the wind industry who has taken 749MW, over 10 times more support than what solar received.
“Beyond the lion’s share taken by wind, nearly half of the awarded solar applications cannot be built due to development costs being too high. Not only does the solar industry receive minor support, but the remaining provision in the CFD budget is largely diminished, leaving solar no chance to compete with other technologies. It is astounding that out of 2GW of CFD contracts only 40MW of solar will be built.
“As solar is estimated to be the largest global source of power by 2050 and the cheapest source by 2025, it’s clear the solar industry isn’t getting a fair chance to succeed in the UK, while it is globally. Today’s CFD outcomes puts the UK behind in terms of securing energy supply while at the same time hurting home-grown UK business. Soon the Government will discover their judgement of the CFD allocations to be very short-sighted.
“The Government plays an important role in supporting industries in meeting renewable energy targets they have set out. As a company, and as a solar industry participant, we will continue to strive to meet UK and EU renewable energy targets, to create good business in the UK, and provide more jobs and citizen involvement in our schemes. In doing that, it is necessary that DECC and the government at large realise the impossibility of today’s outcomes in supporting a sustainable and renewable future in the UK, and hope they will provide security to our process on our journey to price competitiveness.â€‹”
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