Overview
Shashank Krishna, partner at law firm McDermott Will & Emery, said:
“Recent bids for UK offshore wind and solar assets in Europe suggest that certain renewable asset classes in select geographies are seeking increasingly high valuations. However, we are at the early stages of the energy transition. Business models and structures are still evolving. There are a number of other renewable asset classes and geographies that could benefit from further investments. Governments need to encourage investments in renewable energy/carbon abatement/climate change research and development for a truly deep energy transition. Governments also need to aggressively work towards a carbon tax/levy to account for the true cost of carbon emissions. We also need to start having an honest conversation about the true cost of the global energy transition and how it will be paid (not just in the OECD countries but also in the developing world). There are no easy, or one size fits all solutions – we need an all hands on deck approach.”