The UK and Germany have entered into a new partnership that aims to improve the production of renewable energy and ensure long-term energy security for both countries. Furthermore, the agreement provides a framework for future energy and climate cooperation while reducing regulatory limitations on renewables, particularly offshore wind and electricity connections in the North Sea. Reportedly, the deal, which was signed by Germany’s Vice-Chancellor and the UK’s Energy Security Secretary, proposes a shared commitment to net zero and the energy transition.
The partnership aims to strengthen and promote energy security on a regional and global scale, including debates on winter preparedness, infrastructure security, and supply chain security. Additionally, it aims to share best practises at the industrial and building scales for energy efficiency, heat decarbonisation, and net-zero policies and initiatives. The deal comes after both countries signed a joint declaration of intent in September 2023 with the goal of advancing the development of low-carbon hydrogen production from renewable sources.
In August 2023, Octopus Renewables Infrastructure Trust, a renewables investment company and an investment arm of Octopus Renewables, announced an investment of up to $2.5 million to build solar and battery storage projects in the UK.
