About this event
Historically, renewables auction designs have been based on price criteria. This has favoured developers with the most cost-competitive bids. The CfD scheme - alongside other peer schemes in continental Europe - has followed this principle.
The revival of industrial policy along with sustainability concerns have challenged this convention, and in response, many jurisdictions have started introducing ‘non-price factors’ (NPFs) into renewables auctions.
Examples of NPFs could include investments in local manufacturing and logistics, workforce and skills, environmental sustainability and supply-chain diversification.
The UK Government decided to introduce NPFs into the CfD scheme to address those challenges. The instrument, dubbed the ‘Sustainable Industry Reward’ (SIR), will require developers to meet minimum criteria, as well as provide additional payments to successful Offshore wind/Floating Offshore wind generators investing in local capabilities and supply-chain sustainability.
Join us to understand more about SIRs, how they’ll be regulated and when they will be implemented.
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This webinar is FREE to attend.
Speakers:
Adam Williams
Adam Williams is Head of Policy, Regulation and Business Development at the Low Carbon Contracts Company, and has worked in the energy industry for almost 15 years. In his current role he leads the team of policy experts that provide impartial advice to the government to enhance the existing renewable subsidy regimes, as well as developing new schemes such as hydrogen transport, with the ultimate goal of facilitating the delivery of Net Zero.
Adam has previously worked for various large offshore wind developers, managing bids for auctions globally, as well as securing financial backing for projects to take them through to Financial Investment Decision.
Prior to working in the renewables sector, he worked for National Grid for 10 years in various engineering, commercial, regulatory and strategic roles, including two years within the Electricity Market Reform Delivery Body developing the allocation framework for the UK’s CfD auction regime.
Apostolos Valassas
Apostolos Valassas is Policy and Commercial Development Lead at the Low Carbon Contracts Company. In his current role, he is working on the development of the Contracts for Difference scheme under the ongoing Review of Electricity Markets Arrangements in GB. Apostolos is part of a team of experts that provides policy advisory to the government and engages with stakeholders across the whole industry spectrum.
Apostolos has previously worked in energy consulting, supporting solar and battery storage developers with supply-chain analytics and intelligence. He also has experience in EU renewables subsidy schemes and electricity market design.