The government is under growing pressure to unveil a host of long-awaited green policy plans and frameworks before the end of the year in order to help businesses mobilise a new wave of investment in net zero-compatible infrastructure. A new Energy White Paper and National Infrastructure Strategy have been in the pipeline for months, while wider measures designed to put the UK on track to meet its medium and long term emissions goals are also awaited. Independent advisory body the National Infrastructure Commission (NIC) has repeatedly made clear that the government should place its 2050 net zero target and nature restoration ambitions at the heart of its forthcoming strategy in order to avoid locking-in high carbon infrastructure. And now Green Alliance has ramped up the pressure further, warning that a fresh infrastructure strategy is urgently needed, as the current approach could badly undermine the net zero transition. Specifically, it points to a £11.4bn gap in investment in net zero infrastructure during the current financial year alone across transport, buildings, the circular economy, and natural infrastructure such as trees, peatland, and habitats. The report warned that without action the investment gap is set to grow to £13.5bn a year by the end of 2022.
Solar Power Portal 10th Nov 2020 read more »
A fund specialising in industrial-scale electricity storage plans to raise up to £263 million for projects that could more than double its value and battery capacity. Gresham House Energy Storage, a listed company that buys power from the grid when it is cheap and sells it back when it is more expensive, said that it wanted to issue up to 250 million new shares to finance ten additional projects. The company received a cautious response from investors when it first floated in 2018, but has since enjoyed a surge of interest because of a promising proposed yield and growing demand for green investments. So far it has raised £238 million.
Times 11th Nov 2020 read more »