Finance
Britain secures record amount of solar in renewable power auction
Published by Global Banking & Finance Review®
Posted on February 10, 2026
1 min readLast updated: February 10, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 10, 2026
1 min readLast updated: February 10, 2026
Britain secured a record solar power capacity in a renewable auction, advancing its clean energy goals and reducing electricity costs.
By Susanna Twidale
LONDON, Feb 10 (Reuters) - Britain secured a record amount of solar power in an auction offering guaranteed electricity price contracts to renewable projects, the government said on Tuesday, as it seeks to meet its clean energy targets and drive down costs.
The country has a target to largely decarbonise its electricity sector by 2030, which will require a huge scale-up of renewable power, including wind and solar.
A total of 6.2 gigawatts of onshore wind, solar and tidal power projects won contracts with the bulk, some 4.9 GW, going to solar.
"By backing solar and onshore wind at scale, we’re driving bills down for good and protecting families, businesses, and our country from the fossil fuel roller coaster," Energy Secretary Ed Miliband said in a statement.
(Reporting By Susanna Twidale; Editing by Joe Bavier)
Solar power is energy derived from the sun's radiation, which can be converted into electricity using solar panels. It is a renewable energy source that helps reduce reliance on fossil fuels.
Renewable energy is energy generated from natural resources that are replenished over time, such as sunlight, wind, rain, and geothermal heat. It is considered more sustainable than fossil fuels.
Guaranteed electricity price contracts are agreements that ensure energy producers receive a fixed price for the electricity they generate, providing financial stability and encouraging investment in renewable energy projects.
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