Reuters
Britain will need to invest 330 billion pounds in its energy sector, excluding networks, by 2030 and return its economy to growth to meet carbon emissions reduction targets, the London School of Economics said in a report on Thursday. Britain aims to cut carbon emissions by 34 percent below 1990 levels by 2020 and by 80 percent by 2050, but does not have a binding target for 2030.
The investments are needed to build new power plants, retrofit existing ones with carbon-reduction technology and to limit energy demand. “The key question will be how do we attract pension funds, which are one source of capital, and generally the financial sector, being banks and insurance companies, to join the market?” said Volker Beckers, chief executive of RWE npower, which commissioned the report.
He said only around 30-40 percent of the investment can be covered by balance sheets and project finance of British energy companies, leaving the lion’s share of money needed to other investors. To Read More…..
Britain will need to invest 330 billion pounds in its energy sector, excluding networks, by 2030 and return its economy to growth to meet carbon emissions reduction targets, the London School of Economics said in a report on Thursday. Britain aims to cut carbon emissions by 34 percent below 1990 levels by 2020 and by 80 percent by 2050, but does not have a binding target for 2030.
The investments are needed to build new power plants, retrofit existing ones with carbon-reduction technology and to limit energy demand. “The key question will be how do we attract pension funds, which are one source of capital, and generally the financial sector, being banks and insurance companies, to join the market?” said Volker Beckers, chief executive of RWE npower, which commissioned the report.
He said only around 30-40 percent of the investment can be covered by balance sheets and project finance of British energy companies, leaving the lion’s share of money needed to other investors. To Read More…..
My Take – Green energy is like all the other green claptrap. It is an abandonment of things that work to be replaced with things that don’t work. Whether it is energy or pest control. We have people who have no expertise in a field dictating to those industry’s leaders how to conduct their business. It is insanity and it is cowardice on the part of industry. Cowardice and greed. Both of which seem to destroy their ability to see any further down the road to the next quarterly report. There is a difference between big business and business in general….and big business isn’t a friend to the rest unless it is convenient or profitable to them. Big business is at best a leaky vessel. If big business was leading at the Battle of the Bulge we would be speaking German.
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