UK more attractive to renewables investors
The UK has been named as one of the most attractive places in the world for investment in renewable energy.
Data from the latest biannual investors survey, carried out by auditing firm EY, shows that the UK ranks sixth in its ‘attractiveness index’ for renewable energy.
The rankings were published ahead of a major clean energy action in 2021 – where the UK Government will hold a new round of clean power auctions for solar and onshore wind projects.
The ranking is in part attributed to the Government’s decision in early 2020 to reverse its moratorium on onshore wind power subsidies, as well as its pledge to cut the nation’s carbon emissions to net zero by 2050.
Speaking to the Guardian, Ben Warren, the author of EY’s report, said investors remain confident in “the long-term picture for clean energy”.
“The need, after the pandemic, to ensure greater economic and social resilience will work in favour of distributed power sources, such as wind and solar, and the applications offered by battery storage,” he added.