Jurisdiction(s):
United Kingdom

Key definition

Renewable energy definition

What does Renewable energy mean? In legal practice, renewable energy describes electricity or heat generated from naturally replenishing sources on a human timescale, and the term appears across energy regulation, planning, environmental and finance documents. It is a descriptive expression, with statutory wording varying by regime. In Great Britain and Northern Ireland, legislation commonly refers to “renewable sources”, typically defined for support schemes (for example the Renewables Obligation and successor arrangements) as sources of energy other than fossil or nuclear fuels; this can include the biogenic fraction of waste. In Ireland, usage follows the EU Renewable Energy Directive, which defines energy from renewable sources to include...

Solar PV Project Finance in the UK: Structures, PPAs and CfDs, Key Documents, Bankability and Risk

Published by a LexisNexis Banking & Finance expert

Practice notes

Introduction and key benefits of solar

As interest in renewable energy has surged over the last decade, solar projects have multiplied across the market. Among the two main technologies, photovoltaic (PV) and concentrated solar power (CSP), PV leads by a wide margin. Its relatively low capital outlay and rapid delivery schedules make PV schemes especially appealing to investors and sponsors in the energy sector. By end-April 2025, the UK’s installed solar PV capacity reached 18.1 GW, a 5.9% rise year on year. Solar PV now supplies around 11% of the UK’s electricity. In June 2025, the UK government released a solar roadmap outlining coordinated actions for government and industry to accelerate deployment of all forms of solar nationwide, with an ambition to reach 45–47 GW by 2030. The International Energy Agency’s Renewables 2024 report signals that, by the close of the decade, solar PV is on track to become the largest renewable source, overtaking both wind and hydropower. Global manufacturing capacity is anticipated to surpass 1,100 GW by the end of 2024, more than double projected...

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Web page updated on 21/05/2026

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