Little Cheyne Court Wind Farm, near Lydd, Kent. The UK's renewable energy sector is facing a perfect storm this year, experts have warned. PA
Little Cheyne Court Wind Farm, near Lydd, Kent. The UK's renewable energy sector is facing a perfect storm this year, experts have warned. PA
Little Cheyne Court Wind Farm, near Lydd, Kent. The UK's renewable energy sector is facing a perfect storm this year, experts have warned. PA
Little Cheyne Court Wind Farm, near Lydd, Kent. The UK's renewable energy sector is facing a perfect storm this year, experts have warned. PA

Renewable energy sector will fail without urgent government action, trade bodies warn


Matthew Davies
  • English
  • Arabic

Britain's goal of being a global centre for renewable energy could be at risk if the government fails to create the right conditions to attract investment, two trade bodies at the centre of the industry have said.

Renewable UK and Energy UK have separately called on the government to make it easier and more profitable for investors looking to build wind and solar farms.

"The renewable energy sector is facing a perfect storm this year, with inflation squeezing out already tight profit margins, and fierce international competition for investment, skills and supply chains," said Renewable UK head of policy, Ana Musa.

"The US and the EU are in a race to offer incentives to clean energy investors and the UK cannot take its leadership position for granted."

Owl's Hatch Solar Park in Herne Bay, England. Industry analysts say Britain must do more to attract investment in renewable energy projects. Getty
Owl's Hatch Solar Park in Herne Bay, England. Industry analysts say Britain must do more to attract investment in renewable energy projects. Getty

Energy UK, which also represents non-renewable energy companies, said if nothing is done, Britain stands to lose out on £62 billion ($74.72 billion) in investment by the end of the decade.

As well as broader economic issues that affect investment choices, Energy UK said current windfall taxes on energy companies were "poorly designed" and favoured oil and gas producers.

"The UK is in increasing danger of undermining its own ambitions and failing to deliver on its commitments," said Emma Pinchbeck, chief executive of Energy UK.

"In many ways, the UK has led the way in the transition to clean energy — witness our world-leading offshore wind industry — but we risk squandering this position and driving the investment that we need elsewhere."

Volatile prices

The warnings come ahead of Chancellor Jeremy Hunt's budget next month.

A government representative said the UK had consistently attracted investment in renewables. "Since 2010, the UK has seen a more than 500 per cent increase in the amount of renewable electricity capacity connected to the grid, while through 'Contracts for Difference' we have awarded contracts totalling almost 27GW of new low-carbon capacity to date.

"We are consulting on reforms as part of the Review of Electricity Market Arrangements, including changes to the wholesale electricity market that would stop volatile gas prices setting the price of electricity produced by much cheaper renewables — cutting the cost of electricity for consumers in the long term and providing certainty for investors."

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

ASHES FIXTURES

1st Test: Brisbane, Nov 23-27 
2nd Test: Adelaide, Dec 2-6
3rd Test: Perth, Dec 14-18
4th Test: Melbourne, Dec 26-30
5th Test: Sydney, Jan 4-8

 


 

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Engine: naturally aspirated 6.5-liter V12

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LA LIGA FIXTURES

Friday (UAE kick-off times)

Real Sociedad v Leganes (midnight)

Saturday

Alaves v Real Valladolid (4pm)

Valencia v Granada (7pm)

Eibar v Real Madrid (9.30pm)

Barcelona v Celta Vigo (midnight)

Sunday

Real Mallorca v Villarreal (3pm)

Athletic Bilbao v Levante (5pm)

Atletico Madrid v Espanyol (7pm)

Getafe v Osasuna (9.30pm)

Real Betis v Sevilla (midnight)

Graduated from the American University of Sharjah

She is the eldest of three brothers and two sisters

Has helped solve 15 cases of electric shocks

Enjoys travelling, reading and horse riding

 

How to apply for a drone permit
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What are the regulations?
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Manikarnika: The Queen of Jhansi

Director: Kangana Ranaut, Krish Jagarlamudi

Producer: Zee Studios, Kamal Jain

Cast: Kangana Ranaut, Ankita Lokhande, Danny Denzongpa, Atul Kulkarni

Rating: 2.5/5

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

Women’s World T20, Asia Qualifier

UAE results
Beat China by 16 runs
Lost to Thailand by 10 wickets
Beat Nepal by five runs
Beat Hong Kong by eight wickets
Beat Malaysia by 34 runs

Standings (P, W, l, NR, points)

1. Thailand 5 4 0 1 9
2. UAE 5 4 1 0 8
3. Nepal 5 2 1 2 6
4. Hong Kong 5 2 2 1 5
5. Malaysia 5 1 4 0 2
6. China 5 0 5 0 0

Final
Thailand v UAE, Monday, 7am

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Business Insights
  • Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
  • The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Updated: February 20, 2023, 2:41 PM`