11th July 2024 ❘ Legal News and Commentary
The growth of clean energy under the new Labour government
On the 8th of July the Chancellor, Rachel Reeves, emphasised the importance of transitioning to renewable energy sources. Under the new government, we would expect to see an acceleration in the development of onshore wind, offshore wind, solar, and other renewable energy projects.
The UK government has announced a significant policy shift aimed at stimulating the renewable energy market. This move promises to benefit both the environment and investors. A key aspect of the plan is to significantly increase capacity for onshore wind and solar power generation. By doubling onshore wind, tripling solar, and quadrupling offshore wind by 2030, the UK aims to become a global leader in clean energy.
The policy also includes streamlining approval processes for onshore wind projects. This aims to attract substantial private sector investment, further accelerating the growth of clean energy in the UK.
Beyond environmental benefits, this policy shift promises economic growth and infrastructure development.
Deputy Prime Minister Angela Rayner emphasizes the transformative nature of this policy. This “new era for economic growth” will be built on a foundation of clean energy and robust infrastructure.
The UK’s commitment to renewables presents a win-win situation. Investors have the potential for significant returns, while the country progresses towards a cleaner and more sustainable future.
Renewable Energy is set to play an ever-increasing role in business. Our Renewables team offers support to landowners, farmers, and developers, in relation to option agreements and leases with renewable energy providers and power purchase agreements. We can advise on a range of matters for Renewables projects. You can contact our Renewables team on 01228 552222 or by emailing hello@burnetts.co.uk.