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Emerging Markets Exports: Energy and Renewables

Volume 699: debated on Wednesday 14 July 2021

What assessment he has made of the opportunities through COP26 for potential exports in energy and renewables to emerging markets. [R] (902687)

For COP26, we want clean power to be the most attractive option for new power generation for any country. This presents economic opportunities for every country choosing clean energy. The UK Government will showcase a variety of organisations and technologies at COP26 in the blue and green zones, including innovative energy solutions, green technologies and services that can help fight climate change and support resilience.

Does my right hon. Friend agree that the contracts for difference auction that is happening in November, shortly before COP26, is a wonderful opportunity to ensure that there is a separate pot for marine energy, which can give opportunities for some of our great new technologies around the coastline to shine? Does she also agree that COP26 provides an opportunity for us to showcase some of those technologies to visiting delegations from abroad, particularly Asia? Mr Speaker, you will be interested to hear that a British company is the second biggest investor in renewables in the Philippines and will be launching a new large fund on the London stock exchange this autumn to invest in further renewable opportunities in Asia.

Just to confirm, the next contracts for difference auction will open in December this year and will be our biggest yet, firmly charting our path towards net zero. Technologies such as wave and tidal stream projects are eligible to compete in pot 2 for CfD auctions, and we will publish specific allocation round parameters in advance of the auction. The Government continue to provide support to UK companies that are looking to export tidal technologies and other marine renewables abroad.