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Renewable Energy: Recession

Volume 497: debated on Tuesday 13 October 2009

To ask the Secretary of State for Energy and Climate Change what recent assessment he has made of the effects of the economic downturn on levels of finance available for the development of renewable energy. (289773)

DECC is in regular contact with the renewables industry and finance community to assess the impact of the downturn on the development and deployment of renewable energy technologies. There are credit constraints in the venture capital markets supporting new technology development and demonstration and similar pressures in funding the deployment of small and medium-sized technologies such as onshore wind. We are working closely with the renewables industry and banks to address the challenges which developers face in accessing finance.