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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on December 13, 2024

    Featured image for article about Finance

    By Susanna Twidale

    LONDON (Reuters) - Britain on Friday launched a plan to make it easier for developers to build clean energy projects which it hopes will help the country meet its climate targets and create jobs.

    Britain has a target to largely decarbonise its power sector by 2030 which will mean reducing its reliance on gas-fired power plants and rapidly increasing its renewable power capacity.

    The National Energy System Operator last month said reform of the system for connecting new projects to the grid, along with an overhaul to the planning process, would be needed for the target to be met.

    "Billions of pounds of clean energy projects have been held up by a clogged-up planning system, and a dysfunctional power grid queue that means renewables projects cannot get online," the Department for Energy Security and Net Zero (DESNZ) said in a statement.

    Under the new plans onshore wind projects over 100 megawatts will be placed under the Nationally Significant Infrastructure Project regime in England, making it easier for them to get planning consent.

    It will also change the system for new projects to gain connection to the power grid by making sure slow-moving or stalled projects are removed from the queue to make room for viable ones.

    To spur investment in new renewable projects Britain holds annual auctions, inviting developers to bid for government-backed price guarantees for the electricity produced, called Contracts for Difference (CfDs).

    Under the new plans announced on Friday the government said these auctions would be expanded to enable projects to get funding agreed before their planning permission has been finalised which it said would help more projects get built.

    (Reporting by Susanna Twidale, Editing by Angus MacSwan)

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