The UK is rapidly establishing itself as an international leader in renewable energies.
Official approval has been granted for 131 new wind and solar power projects designed to bring energy security and cleaner power by slashing fossil fuel dependence.
It is anticipated that in the drive to meet carbon neutral targets by 2050, these projects will generate approximately 10 GW of new energy capacity, which is sufficient to power an estimated 11 million homes.
To support their goals, the government is launching a new public company, Great British Energy, with an initial funding of £8.3 billion over five years, to bolster the development of emerging green tech in renewables.
For people investment planning in Cheshire’s renewables sector, Solen Energy UK, a solar PV and electrical products provider of modules, inverters and solar cables, has seen turnover profits rise as demand for their products has grown, and the firm is now looking at expanding across the UK and abroad.
In the year to 31 December 2023, the business turned over £61.8 million, an increase from £51.6 million the previous year, while pre-tax profits were also up, from £4.7 million to £5 million.
Solen Energy attributed the increase in profits to the continuing expansion of the UK’s solar industry, as well as the company’s own natural growth trajectory, adding that solar is a popular option for both residential and commercial buildings. It is taking on more staff to meet demand as it prospers from an increasing public appetite for renewables solutions.
