Boralex Inc. announced that a Contract for Difference (CfD) has been secured for its Limekiln Wind Farm in Scotland. The UK Department for Energy Security and Net Zero has awarded Boralex?s 108MW wind energy project near Thurso, in the north of Scotland, a 15-year CfD at a level of £52.29/MWh in 2012 prices (equivalent to £72.35/MWh in July 2023 prices). Contracts for Difference were introduced in the UK in 2014 as a market support mechanism for low-carbon energy projects.
The scheme is designed to encourage the development of large-scale renewable energy infrastructure at the lowest cost to the consumer, whilst levelling out market volatility. Limekiln Wind Farm consists of 24 Vestas V136-4.5MW wind turbines measuring 150m to the tip of the blade. It is expected that the project will be fully operational by 2025.