英国政策全景：通往净零之路

Disclaimer This presentation is for informational purposes. The information contained in thispresentation does not purport to be complete. All of the information contained herein issubject to change without notice. Each recipient of this presentation should conduct its CleanBridge Securities LLC and its affiliate CleanBridge Advisors (UK) Ltd. (together"CleanBridge") have based this document on information obtained from sources itbelieves to be reliable, but which have not been independently verified. Except in thecase of fraudulent misrepresentation, CleanBridge makes no representation or warranty(express or implied) of any nature or accept any responsibility or liability of any kind for This document is not intended for distribution to, or use by, any person or entity inany jurisdiction or country where such distribution or use would be contrary to law orregulation. The information herein does not constitute an offer to sell or solicitation of an The returns and valuations in this presentation are preliminary and tentative only.Nothing in this presentation is, or should be relied on as, a promise or representation as Editorial Imprint Our "Path To Net Zero: Policy Landscape in the UK"primer adds to our continued series of key energytransition-focused industry reports. The collective workis the result of a valued research collaboration betweenus and Alchemy Business Intelligence and Insights,a leading industry research group working actively PUBLISHERCleanBridge EDITORIAL TEAML. Warren Pimm, CFAManaging Partner SUPPORTING TEAM Alchemy Business The Report provides an update on and overview of theUK’s rapidly evolving policy landscape, emphasisingthe nation’s commitment to achieving its 2030 and2050 clean energy and net-zero emissions goals. Ithighlights the ambitious clean energy capacity targetsthe UK government has set, the strategic policymechanisms designed to support these objectives, and Illustration and Design Alchemy Business Thanks toFreepik and Pexels for We hope this primer offers valuable insights and anengaging read, and we look forward to sharing further L. Warren Pimm, CFAManaging PartnerCleanBridge Contents Key Policies / Bills for Net Zero2030 Goals Key Takeaways Clean Energy Transition The United Kingdom (“UK”) is accelerating its clean energy transition, with a commitment toreduce greenhouse gas (“GHG”) emissions by at least 68% from 1990 levels by 2030, supported by a Ambitious Installation Capacity Targets Achieving the 2030 capacity targets will demand a transformative scale-up: offshore wind capacitymust more than triple, onshore wind more than double, solar capacity grow fivefold, and battery Grid Reform & Supply Chain Investment UK grid connection reforms are set to fast-track renewable deployment by replacing the 'FirstCome, First Served' model with a prioritisation of shovel-ready projects. The Office of Gas and Accelerated Approvals & Market Reform The government is overhauling planning and consenting processes to fast-track large-scale renewables and storage projects. Measures include streamlined Nationally Significant Contracts for Difference (“CfD”) Allocation Round 7 (“AR7”) Reforms With extended contract terms, a longer commissioning window, and higher administrative strikeprices (“ASP”), the government is prioritizing capacity growth over fixed budgets, aiming to add Mobilising Investment & Industrial Strategy Public capital is being deployed as a catalyst to crowd in private investment through the £27.8 bnNational Wealth Fund (“NWF”), Great British Energy (“GBE”) equity commitments, and the CleanIndustry Bonus scheme. These funds, alongside a 10-year Clean Energy Industries Sector Plan, ■The United Kingdom’s primary legislativeframework for addressing climate changeis the Climate Change Act 2008. This wasfurther reinforced by the Climate ChangeAct 2008 (2050 Target Amendment) Order published the Clean Power 2030 (CP30)report in November 2024, outlining ■Building on NESO’s analysis, theGovernment released the Clean Power2030 Action Plan in December 2024, whichestablished a target for at least 95% ofthe UK’s electricity generation to come ■In addition to domestic legislation, theUK has made an internationally bindingcommitment under the Paris Agreement.As outlined in its Nationally DeterminedContribution (NDC), the UK aims to reduce ■The Clean Power 2030 Action Plan outlinesa set of coordinated measures designedto support the rapid expansion of cleanelectricity generation. These measuresinclude grid infrastructure expansion, ■As part of its strategy to meet its climatecommitments, the UK Government in2024 commissioned the National EnergySystem Operator (NESO) to provide ■In its 2025 progress report, the ClimateChange Committee (“CCC”) notes thatcredible plans are now in place to coveraround 61% of the emissions reductionsrequired to meet the UK’s 2030 target, ■Addressing grid bottlenecks, scalingrenewable generation, and enablinglarge-