The UK has continued to climb EY’s Renewable Energy Country Attractiveness Index (RECAI), jumping up one place to fifth in its updated rankings, published today. This was a result of a number of factors, including continued commitments to large-scale offshore wind projects, EY pointing in particular to the 1GW Inch Cape project which will be fully merchant, therefore demonstrating the attractive economics for these sorts of projects. The consultancy firm also pointed to Scotland launching its first round of seabed auctions with 10GW of capacity for new offshore wind as well as the 350MW Cleve Hill solar project receiving planning permission, which it said represents a vote of confidence in solar from the UK government.
Current 24th Nov 2020 read more »
Edie 24th Nov 2020 read more »
The Government is aiming to double the amount of renewable energy procured through its Contracts for Difference (CfD) scheme, with 12GW of wind and solar energy being targeted. The Government has confirmed that the fourth round of the CfD scheme will open in late 2021 and will aim to double the 5.8GW of renewable capacity procured in the previous round. Up to 12GW of renewables are being targeted to assist with the nation’s net-zero emissions target for 2050. The number of technologies supported by the scheme will also be expanded in the latest round, with offshore wind, onshore wind, solar, tidal and floating offshore wind projects all eligible to bid. It marks the first time that floating offshore has been eligible for the scheme and the first time since 2015 that onshore wind and solar have been included.
Edie 24th Nov 2020 read more »
Power Technology 12th Nov 2020 read more »
The Department for Business, Energy and Industrial Strategy (BEIS) has confirmed solar will be allowed to compete in next year’s Contracts for Difference (CfD) round, but specific details have yet to be revealed. In a statement and consultation response released today, BEIS has confirmed the fourth allocation round (AR4) of the CfD mechanism will proceed with three separate pots, one of which is earmarked for ‘Pot One’, or more established technologies such as solar PV. Solar will again compete against onshore wind, while offshore wind receives its own allocated pot and a third pot is reserved for less established technologies, including floating offshore wind.
Solar Power Portal 24th Nov 2020 read more »
Institutional investors plan to almost double allocations to renewables in five years, as a combination of customer pressure and market volatility serves to make clean energy projects and increasingly attractive investment proposition. That is the conclusion of a new report this week from clean energy investment specialist Octopus Renewables, which found that institutional investors intend to up their current allocation for renewables from 4.2 per cent of their overall portfolio, to 8.3 per cent over the next five years. Allocations are expected to then increase further to 10.8 per cent by 2030, representing $742.5bn of investment.
Business Green 24th Nov 2020 read more »