A diverse source of homegrown renewable technologies will be key to ensuring the security of energy supply during the UK’s transition to net zero, according to UK Energy Minister Greg Hands.
Hands told the Industry and Regulators Committee today that this will mainly be a responsibility for government.
He added that as the UK continues to move forward in renewable energy developments there will be greater security of supply and a reduced reliance on fluctuating fossil fuel prices.
BEIS Director General for Energy and Security Joanna Whittington said that Whitehall will look to further modify future CfD rounds and upgrade the UK’s current capacity networks to facilitate such a transition.
Further adjustments to future auctions will also work to attract overseas investors to the UK renewables sector as the CfD continues to evolve, Whittington added.
Hands said he was confident in the appeal of the UK industry for foreign investments given the certainty government policy provides.
“They’ll know the UK is very serious about the supply chain and about making sure there are the jobs and skills attached to that investment as well,” he said.
“I think an area that we need to work more on is getting out to them the benefits and opportunities in the UK.”