Publication
Restructuring in the renewable energy sector: what does the future hold?
As policy goals have changed, and subsidies have been allocated and re-allocated, so too has the industry’s direction of travel. Jason Baker Restructuring Advisory
Synopsis
Renewables overtook fossil fuels for the first time in 2020 to become Britain’s biggest electricity source for the year. Together, wind, solar, hydro and biomass provided 104 TWh of electricity, or 39 per cent of all electricity consumed. With the government recently setting out plans for a green industrial revolution that will see it invest £12 billion in creating hundreds of thousands of new ‘green’ jobs, the UK is set to become the world’s number one centre for green technology and finance. Government direction is a key driver behind the UK’s renewable energy sector, with many projects supported by subsidies for renewable, or ‘green’ energy. However, despite support, planning and developing, a renewable project is not without its risks – risks that have been exacerbated by COVID-19. Here, we explore the current state of play for the sector, the impact the pandemic has had, and the risks businesses in the industry will face as it continues to grow and develop.
Jason Baker Partner Restructuring Advisory London +44 (0)7760 164 308 jason.baker@frpadvisory.com
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