CEAC-2021-02-February

News
UK Looks to Ban Sale of New Petrol and
Diesel Cars by 2030
When asked about the next car they buy, one in ten people
said they expect it to be an electric vehicle (EV), and a further
41 percent said they may purchase one of these. This is
part of the findings from new research carried out by Alpha
Real Capital LLP, the specialist real assets investment manager,
and Cornwall Insight, the provider of research, analysis,
consulting and training to businesses and stakeholders in the
British, Irish and Australian energy markets.
“Growth in EV purchases will be essential to driving down
costs and stimulating the level of investment in infrastructure
needed to expand charging networks and achieve the
UK government’s ambitious goal of ending the sale of new
petrol and diesel cars by 2030,” Will Morgan, Head of Renewables
at Alpha Real Capital, said.
Alpha runs a renewables business that invests in UK renewable
energy infrastructure. Morgan believes the growth of
the electric vehicle market could be a catalyst for further
investment from institutional investors into the UK renewables
industry.
“The growing appetite for EVs is encouraging, and we can
see this bearing fruit in vehicle sales,” Jacob Briggs, Senior
Consulting Analyst at Cornwall Insight, said. “The number of
EVs on the road continues to grow at pace, with year-to-date
registrations up 162 percent compared to 2019. In order to
ensure consumer confidence and deliver the transition to
transport electrification, it is vital that charging infrastructure
across the country keeps pace with the demand, with
the right infrastructure deployed in the right place to ensure
the UK’s net zero ambitions are realized.”
An electric car recharging port on a street in London, Wednesday, Nov. 18,
2020. Britain says it will ban the sale of new gasoline and diesel cars by
2030, a decade earlier than its previous commitment. Prime Minister Boris
Johnson recently made the pledge as part of plans for a “green industrial
revolution” that he claims could create up to 250,000 jobs in energy, transport
and technology. (AP Photo/Kirsty Wigglesworth)
Alpha’s renewables business invests in the majority of UK
renewable energy infrastructure including wind, solar, hydro,
and other low-carbon energy resources.
Alpha’s renewables portfolio generates more than 340 GWh
of clean energy — enough to power more than 110,000
homes, an annual CO2 offset equivalent to planting almost
50 million trees.
Alpha has completed more than 50 transactions and invested
or committed more than £600 million into UK renewable
energy, providing predictable, long-term cash flows to investors.
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| Chief Engineer