Britain to hold yearly auctions for new renewable projects from 2023

Britain will hold yearly auctions to support new renewable projects from 2023, the government said on Wednesday, as it seeks to boost low carbon power production to meet its climate goals.

Britain has a target to reach net zero emissions by 2050 and plans to generate 40 gigawatts (GW) of electricity from offshore wind by 2030 – up from around 10 GW currently.