PROCUREMENT: POWERING THE NET ZERO TRANSITION
Ofgem has introduced a ground breaking Advanced Procurement Mechanism to accelerate Britain’ s transition to net zero by granting early access to money for renewable energy infrastructure.
Projects for renewable energy in Britain are set for a boost, as new rules open the way to almost £ 4bn( approx US $ 5.1bn) of investment for crucial transmission equipment and services.
This new streamlined process will ensure green-lit projects are ready to break ground as soon as they are obtained planning approval, which allows the TOs to avoid delays, have control over costs and attract international investment in the pursuit of net zero.