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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 January 7, 2025

    Featured image for article about Finance

    By Susanna Twidale

    LONDON (Reuters) - Wind power was Britain’s largest source of electricity in 2024, topping gas-fired power plants for the first time, data showed on Tuesday.

    Britain has almost 15 gigawatts (GW) of installed offshore wind power and aims to quadruple that to 60 GW by 2030 as part of plans to largely decarbonise its power sector by then.

    "Wind was the largest source of electricity generation in 2024 for the first year ever, accounting for 30%," the National Energy System Operator (NESO) said.

    Gas plants accounted for 26.3% of the total electricity mix while imports provided 14.1% and nuclear power plants 14%, the data showed.

    Britain closed its last coal plant last year as coal accounted for just 0.6% of the country’s electricity.

    During the year several clean power records were broken, with a maximum wind capacity of 22,523 GW hit on December 18 when wind contributed 68.3% of the country’s electricity.

    (Reporting by Susanna Twidale; editing by Jason Neely)

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