1. New U.K. Government Bets on Green Energy. Companies Are Wary.
- Author
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Morina, Enes and Strasburg, Jenny
- Subjects
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WIND power , *ELECTRIC power production , *RUSSIAN invasion of Ukraine, 2022- , *ELECTRIC utilities , *CLEAN energy - Abstract
The U.K. government has established a state energy company called Great British Energy, which aims to invest £8.3 billion in renewable projects over the next five years. The goal is to accelerate the adoption of green energy and achieve the government's target of decarbonizing the electricity grid by 2030. However, industry executives are divided on whether this plan can be successful. While some companies are scaling back their green-energy ambitions, others are hopeful that the government's investment will attract more funds and accelerate funding for low-carbon projects. There are concerns about the size of GB Energy's budget and the challenges of connecting green-energy projects to the U.K.'s electricity grid. Additionally, there is debate over potential limits to oil and gas production in the North Sea. [Extracted from the article]
- Published
- 2024