The UK has once again moved up a spot in EY’s Renewable Energy Country Attractiveness Index (RECAI), securing the fourth spot in the rankings. This upwards trajectory was supported by the Crown Estate’s seabed leasing Round 4, which concluded in February having granted developers the rights to just under 8GW of new offshore wind capacity across six projects. It drew record prices and unprecedented interest, noted EY, from both incumbents and newcomers. In previous years, the UK has been able to rise through the ranks due to its strong offshore wind commitment, moving from eighth in May 2019. Additionally, the consultancy pointed to the consent given by the UK government for the largest battery-storage project in the country. The 320MW site is being developed at DP Word London Gateway on the Thames Estuary in Essex by InterGen. It gained planning consent in November 2020, with construction expected to get underway in 2022 before the battery technology, which is being provided by Fluence, becomes operational in 2024. Finally, the £92 million pledged by the UK government helped boost the country up the rankings of the top 40 countries.
Current 19th May 2021 read more »
The UK has climbed one position to fourth in the rankings for EY’s national attractiveness of renewable energy investment, but the organisation has warned that global green finance efforts need to improve considerably to meet clean energy demand for existing climate commitments.
Edie 19th May 2021 read more »
Business Green 19th May 2021 read more »