UK Finances Renewable Energy Partnership

A new initiative from the Carbon Trust to increase the pace of development of renewables in the UK has received backing with GBP 10 million [US$12.7 billion] in funds from the UK’s Department for Environment, Food and Rural Affairs (DEFRA).

Called the Partnership for Renewables (PfR), the new program, which is run by the Carbon Trust, will partner with private sector organizations to develop onsite renewable energy projects with local authorities, hospitals, and other public sector bodies. Plans include 500 megawatts (MW) of renewable energy projects, primarily 3-5 MW wind turbine projects, to be constructed or under development within the next five years. “The Carbon Trust has shown how plans for renewable installations, mainly wind power, on the land of local authorities and hospitals can be held back because public and private investment are not working together,” said UK Environment Secretary David Miliband, who announced the DEFRA funding last week. The Carbon Trust’s ambitious plans would increase existing wind generation capacity by 25%, and act as a catalyst for the private sector to invest in their own onsite renewable projects. The PfR will also contribute towards the Government’s goal to reduce carbon dioxide emissions 60% by 2050. “The PfR company will open up and fast track the development of a new market for renewable power and will be further proof that there are business solutions to climate change,” said Tom Delay, Chief Executive of Carbon Trust. “Once built, these projects will be providing power equivalent to the needs of a quarter of a million homes.”

No posts to display