(Updates with details)
LONDON, Nov 20 (Reuters) - Britian will hold its next auction for subsidies to help fund renewable power projects in May next year, with 60 million pounds ($77 million) available, the government said on Tuesday.
Under the so-called contract for difference (CfD) scheme, qualifying projects are guaranteed a minimum price at which they can sell electricity, and renewable power generators bid for CfD contracts in a round of auctions.
Britain’s energy minister Claire Perry told parliament the government was in the final stages of concluding a sector deal for the offshore wind industry.
“It will include ... 60 million for the contract for difference auction next spring,” she said during questions in the House of Commons. ($1 = 0.7806 pounds) (Reporting By Susanna Twidale, editing by David Evans)