Renewables

You’ve just received notification that you’ve been allocated a CfD. Congratulations! Unfortunately there is isn’t too much time to celebrate – you’ve got work to do to avoid losing your CfD.

FIRST STEPScontract and magnifying glass

Sign the CfD contract. You’ll receive this in the next two weeks and you then have 10 working days to return it signed. Make sure it is correct – once signed any corrections are at the discretion of Low Carbon Contracts Company. Remember failure to sign in time risks the offer being withdrawn.

Locate your signatories. You don’t have much time to sign the document and signatories will need to be properly authorised so a legal opinion can be given.

Complete the initial paperwork. You need to do this within 10 working days of signing the CfD contract. NB: this could be over Easter. If not delivered on time then LCCC can terminate the CfD. The initial paperwork is:

  • KYC information – similar to the information required to open a bank account. It will be specified by LCCC.
  • Legal opinion on the capacity and authority of the company entering into the CfD contract. You’ll need a law firm to provide the legal opinion. We might know someone who could help!
  • Project description – this is a description of the project facility including a map showing the project facility and the metering equipment

NEXT STEPS

I’ll follow up on the next steps once the first steps are out of the way hopefully in late March. However, just as a brief reminder they are:

  • Meet the milestone requirements within the first 12 months.
  • Finalise your capacity estimate and adjust if necessary.
  • Keep to programme to deliver within the target commissioning window.

BIG PICTURE

My colleague Keith Patterson has provided some analysis of the auction outcome per sector and auction pot: The CfD Results Are In.

Sarah-Jane McArthur