Low carbon leader
The UK’s expertise is helping drive the global change to net zero carbon emissions. In 2019, over 50% of electricity generated in the UK came from low carbon sources.
The UK is the first major economy to pass a net zero emissions law with a target to bring greenhouse gas emissions to net zero by 2050, while encouraging investment in low carbon technologies.
A stable policy and regulatory framework provides long term direction and supports innovation, with an independent economic regulator for energy markets encouraging companies to innovate.
To meet targets in the UK climate change law, the government’s Industrial Strategy leads with the decarbonisation of electricity generation. Substantial public and private capital is needed for decarbonisation projects together with major investment in research and development.
Electricity is increasingly generated closer to where it is used. This creates opportunities for investors who have had little exposure to the power generation industry until now. Investment is also needed in technology that integrates energy generated locally into the electricity system.
Smart technology and data analysis make energy more efficient and better integrated into networks. The decarbonisation of power generation creates a major investment opportunity in digital technology and innovation, for use in the UK and around the world.
World’s first 1 gigawatt windfarm
The world’s biggest offshore windfarm is nearing completion with the last of the turbines installed 120 kilometres off the UK’s Yorkshire coast. This 870 million GBP project between Ørsted and Global Infrastructure Partners features 174 Siemens Gamesa 7 megawatt turbines.