Britain has been setting up annual tenders for new Renewable Energy projects since 2023, in a bid to boost low-carbon energy production and meet its climate targets.
In particular, according to Reuters, Britain aims to reach zero emissions by 2050, while it plans to increase electricity production from offshore wind farms to 40 GW from around 10 GW today, by 2030.
The move also comes amid a spike in energy costs, as bills for millions of households are expected to pick up significantly after the decision to raise the billing ceiling by 54% in April.
“The more clean, cheap and safe energy we produce at home, the less exposed we will be to the expensive gas prices set by international markets,” British Business and Energy Minister Kwasi Kwarteng said in a statement.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
