Anesco Chairman Warns Election Must Be Catalyst For Renewables Policy Stability
The general election needs to be a catalyst for the Government to bring some much needed stability to the renewables sector, the executive chairman of Anesco has said.
Steve Shine OBE made the comments following the recent election, which ended in a hung parliament and has left the country facing yet more uncertainty.
“What everyone in the industry really needs to hear, is positive long term energy policy," said Steve. “We need certainty, especially if we’re to stay competitive on a global stage.
“It’s not about subsidies, we’re talking about the need for greater stability. That’s what we’re hearing from investors and that’s what we need to hear from government, if the UK is to remain a viable option for investment and not risk falling behind the rest of the world."
He continued: “We are looking for long term contracts for renewables to enable the industry to build low cost capacity, for example why not extend CFDs to solar – it’s one of the lowest cost ways to deliver low carbon electricity".
The UK is expected to miss its EU 2020 targets for renewable energy. The sector has faced many challenges over the past 24 months, from the surprise referendum result and concerns over Brexit and its long-term implications, to cuts in solar subsidies and ongoing delays in the publication of the government’s Clean Growth Plan (CGP).
Steve added: “In all the major economies that we’re competing with, investment is going up. But in the UK, it is in danger of falling, due to a lack of clarity. What we need is long term stability. No more U-turns, no more delays, no more surprises, just a sustainable future."
Earlier this year, Anesco powered up its 101st solar farm, taking its portfolio to 480MW. The company’s energy management system, AnescoMeter, is currently monitoring over 21,500 renewable assets, while its ECO delivery team has achieved £330 m in energy savings and helped raise over 350,000 people out of fuel poverty. The company is also leading the way in utility scale energy storage, with 20 operational energy storage sites totalling 19MW currently installed and its portfolio set to exceed 185MW by the end of 2018.