Renewables are driving huge benefits as we look forward to the All Energy Conference in Glasgow on May 14 and 15, there has been a huge change in the Energy sector since 2024.
The change in the UK Government in July 2024 has resulted in a major shift in energy policy in the United Kingdom that will result in significant opportunities in renewables driving huge benefits.
The UK Government’s Clean Power 2030 Action Plan (December 2024), sets ambitious targets: 43-50GW of offshore wind (tripling existing capacity), 27-29GW of onshore wind (doubling existing capacity) and 45-47GW of solar power (tripling existing capacity).
Linked to this are targets related to flexible storage capacity including 23-27GW of battery capacity (against existing capacity of 4.5GW), 4-6GW of long-duration energy storage (against existing capacity of 2.9GW) and the development of flexibility technologies including gas carbon capture utilisation and storage and hydrogen.
The government acknowledges that this will require a once-in-a-generation level of investment – an average annual investment of £40bn over the next five years, compared to the average annual investment of £11bn between 2020 and 2024 – with most of the funding coming from private investment.
In addition to the increase in generation and storage projects, the Clean Power 2030 Action Plan also addresses decarbonisation of the wider economy by 2050. Through initiatives such as electrification of heat in buildings, transport and industry, renewable projects are driving huge benefits.
There are increased opportunities in technologies such as green hydrogen (which has been identified by the Scottish Government as a growth area with an emphasis on the opportunity for export) and battery storage, each of which presents a compelling avenue for the owners of existing renewable projects to expand.
With the framework laid out by the Clean Power 2030 Action Plan and the formation of Great British Energy (to be headquartered in Aberdeen), the path is clear for renewable energy projects (both new and existing) to flourish, driving both environmental and economic benefits.
The DWF Energy Team (many of whom will be present at All Energy), with its deep expertise in the sector, is well-positioned to support clients in navigating exciting opportunities ahead.
Partner Content in association with DWF.
Jonathan Kirkwood is Partner, Corporate, at DWF
T +44 333 320 2220
E jonathan.kirkwood@dwf.law
Caroline Colliston is the office managing partner for DWF’s offices in Edinburgh and Glasgow. Read more about Caroline in Women in Scotland’s Legal World: 25 Names to Watch in 2025.
