Renewable Energy Opportunity
Since the Kyoto summit on climate change in 1997, where standards were proposed for developed nations to reduce their level of greenhouse gas emissions, political pressure concerning the preferred use of renewable energy to produce ``green`` power has increased dramatically.
In particular, the EU requires that member states adopt national targets for renewables which are consistent with reaching the Commission`s overall target of 12 per cent of electricity from renewable sources by 2010.
Historically, the UK has generated one of the lowest proportions of renewable energy of any of the major European countries. With the 2005 Amendments to the UK`s renewables legislation, the UK system is now regarded as amongst the most robust in the world, with a legislative framework laid down until 2027.
Commencing in April of 2002, the UK Government introduced a target of 10.4 % of electricity to be generated from renewable energy sources by 2010. This compares with a target of 4.3 % and an actual level of generation of 2.4 % in the year ended 31 March 2004.
In November 2004, the UK Government amended the legislation to increase this target to 15.4 % by 2015 indicating the UK Government`s continued commitment to renewable energy generation in the UK.
KP Renewables has estimated that more than 52.7 million MWh per annum of electricity will be required to be generated from renewable sources by 2016. This compares with an actual level of 7.1 million MWh per annum for the year ended 31 March 2003.
In order to meet these requirements, the market for renewable energy generation in the UK will need to grow substantially.
This is the market which KPR is uniquely positioned to address!
