Making the Ambitious Achievable: How Can a Labour Government Channel Private Investment into Meeting its Renewable Energy Targets?
The SME4Labour, Photovolt Development Partners, and DRD Partnership fringe event discussed the ways in which a Labour government could channel private investment to meet renewable energy goals. The session focused on the essential role of partnerships between the public and private sectors and how policy frameworks can encourage investment in renewable energy.Speakers & Key Topics
- Mark Owen-Lloyd, Director at Photovolt Development Partners
- Dan Norris, Mayor for the West of England
- Oliver Coppard, Mayor of South Yorkshire
- Natasha Irons, MP for East Croydon
Discussion Highlights
- Introducing Utility-Scale Solar Farms & Investment Potential Mark Owen-Lloyd introduced Photovolt Development Partners' ambitious pipeline of 12 utility-scale solar farms across the UK, representing around £12 billion worth of private investment. He highlighted the significance of such large-scale projects for the renewable energy landscape in the UK.
- Public-Private Partnerships for Renewable Energy Dan Norris discussed the critical role of partnerships between the government and private sector in advancing renewable energy projects. He emphasized the need for government incentives and support to attract private investment into the renewable sector.
- Regional Mayors as Drivers of Investment Oliver Coppard spoke about the influential role of regional mayors in encouraging renewable energy development. He highlighted how mayors can attract investments and help coordinate renewable energy projects to align with regional goals.
- Stable Policy Framework for Renewables Natasha Irons underscored the importance of a clear and stable policy framework to boost investor confidence. She stressed that consistent policies are crucial to ensuring long-term investment in renewable energy projects.
Audience Q&A Insights
- Grid Connection Challenges: When asked about challenges around grid connections, Mark Owen-Lloyd identified delays as a major barrier to renewable energy development, noting that resolving grid connection issues is key to advancing projects.
- Role of the Civil Service: Responding to a question about support for renewable projects, Dan Norris noted that the Civil Service has been more supportive of renewable energy initiatives under the current government, which has facilitated development in this sector.
Key Takeaways
- Private investment is crucial for meeting the UK’s renewable energy targets.
- Government incentives and support are needed to attract private sector investment.
- Regional mayors play a significant role in driving investment and coordinating renewable energy efforts.
- A clear and stable policy framework is vital to boost investor confidence in renewable energy projects.
- Grid connection delays are a significant barrier to renewable energy development.
- The Civil Service has shown increased support for renewable energy under the current government.