Glossary
The target of balancing greenhouse gas emissions produced with those removed from the atmosphere, legally binding in the UK by 2050.
The Energy Transition
from Energy & Technology
The shift from fossil fuels to renewable energy sources is reshaping entire industries and creating vast new areas of legal work. The UK's legally binding commitment to reach net zero greenhouse gas emissions by 2050 (under the Climate Change Act 2008, as amended) drives policy across planning, tax, and energy regulation. Lawyers advise on the development of offshore wind farms, solar installations, battery storage, and hydrogen projects — each involving complex permitting, grid connection agreements, and construction contracts. The transition is not just about building new assets; it also involves decommissioning legacy infrastructure, managing stranded asset risk, and navigating the politics of energy security.
SPV (Special Purpose Vehicle)
A legally separate entity created to isolate the financial risk of a specific project, so that the sponsor's other assets are not exposed if the project fails.
PPA (Power Purchase Agreement)
A long-term contract between an energy generator and a buyer, fixing the price and volume of electricity to be supplied — essential for project bankability.
Bankability
Whether a project's risk profile and contractual framework are acceptable to lenders for the purpose of providing project finance.
UK GDPR
The UK's retained version of the EU General Data Protection Regulation, governing the processing of personal data by organisations operating in the UK.
RAB (Regulated Asset Base)
A funding model where investors earn a regulated return on capital deployed during construction, reducing risk and lowering the cost of finance for large infrastructure projects.
EPC Contract
An Engineering, Procurement, and Construction contract under which a single contractor takes responsibility for delivering a project to a fixed price, time, and specification.
Carbon Credit
A tradeable certificate representing the right to emit one tonne of carbon dioxide, used in compliance and voluntary carbon markets.