The UK government has launched an investment program that allows renewable energy developers seek greater support to commission projects at an accelerated pace.
The Final Investment Decision Enabling program will help the developers make final investment decisions ahead of changes to the electricity market in the second half of 2014.
Department of Energy and Climate Change secretary Edward Davey said that the initiative will boost the country’s economy by providing low carbon investment along with the creation of green jobs.
The Government is committed to offer investment contracts to successful applicants in the autumn of 2013, based on the draft strike prices and contract terms that will be published in the summer.
"We want to give investors and project developers across low-carbon technologies as much certainty as we can, as early as we can.
"That’s why we are launching a process that will enable investment decisions to be taken before changes to the electricity market come into effect, ensuring that renewable electricity projects can get built, bring investment and jobs," added Davey.