Britain’s energy regulator, Ofgem, has unveiled plans for a major investment fund worth between £5 billion and £8 billion ($10.16 billion). This initiative is designed to accelerate the country’s efforts to achieve net zero emissions by enabling energy transmission owners to fast-track critical infrastructure projects.

The fund will provide financial allowances for the advance procurement of essential equipment, such as switchgear, cables, and steel, which are vital for the development of green energy projects. By securing these materials earlier, the initiative aims to reduce project delays, lower costs, and enhance the efficiency of delivery.

This strategic move underscores the UK’s commitment to fostering sustainable energy solutions, as consultations on the proposal begin.