There has been talk of serious, meaningful investment by those looking for both profit and renewability in the future, and we are now starting to see the evidence for this in the market. Elliot Capital Advisors, the UK arm of American investing power Elliot Management Corporation, has put £100 million into 5 or 6 unnamed solar projects that are operating around the UK.
This is part of the growing trend that should see renewable energy in a place of priority for new investment in the UK. Many have called for more urgency in private and public investment in solar, wind and hydro power, but the action has been slow to arrive. And even now that it is arriving, it falls far short of the investments made into fossil fuel companies around the world.
In 2013, £8 billion was invested in the market through renewable energy companies. As statistics this week suggested that as much as 46% of our energy is being imported from abroad, an increase in the interest in UK based renewable energy sources will be seen by experts and interested parties as a definite move in the right direction. Governmental promises to bring 15% of the UK’s energy requirements from green sources by 2020 was seen as a very optimistic challenge, but with the investments we are starting to see, it might not be completely out of reach.
Greater public and media awareness and focus on the spending of the UKEF (the governmental body that decides on foreign energy investments) will hopefully prompt a more green energy spending policy, which in combination with the confidence being placed in the green energy companies by large investment firms, should go some of the way to pushing the renewable energy sources back into a position of priority where they belong.