Energy & Infrastructure Legal Outlook 2024
Key topics for you to prepare for in the next 12 months
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Key topics for you to prepare for in the next 12 months
2024 is set to be another exciting year for energy & infrastructure markets. In the light of the global push to transition to clean energy, the sector is a key focus for governments, business and all of us in our day to day lives.
The pace of change is great. First-of-a-kind clean energy technologies, rafts of new and evolving government policy, legislation, regulation and guidance, development of new energy markets, the ever-expanding definition of infrastructure and access to novel sources of funds for major energy & infrastructure projects all provide both challenges and opportunities.
Government support for the newer low-carbon technologies remains crucial across the globe, particularly as markets for green and blue hydrogen, alternative fuels and carbon capture and storage seek to establish and grow. The more established renewables, such as wind and solar, continue to face cost and supply chain challenges but ultimately offer a relatively low-risk and bankable option which continues to pique the interest of more flexible infrastructure funds.
To make the most of the significant opportunities in the sector, sponsors, investors and lenders will need to be agile and well-supported to successfully navigate the increasingly complex and ever-moving legal and risk landscape.
In this Energy & Infrastructure Legal Outlook we explore the latest developments in key markets across the globe and highlight the legal and regulatory developments to look out for in 2024 and beyond.
Explore the topics in the publication
Certainty and stability in regulatory frameworks supporting the global transition away from fossil fuels continues to be one of the top concerns for market participants in the energy transition. While governments around the globe are working to balance fiscal, socio-economic and climate concerns both nationally and internationally, implementation of energy transition policy is moving forward with the focus turning towards delivery. The coming into force of the UK’s Energy Act 2023 is one example.
Creaky and inflexible grid infrastructure around the world remains a key challenge to electrifying and decarbonising power and industry at scale. Many jurisdictions are considering how best to reform their grids so that increased reliance on renewable generation can be accommodated. This requires increased flexibility in the system both in terms of balancing supply and demand and having the right infrastructure in the right locations. How to speed up connections and integrate long duration electricity storage are both crucial parts of the equation.
The fast pace of legal and regulatory developments, innovations in technology and the private sector focus on contributing to net zero requires all stakeholders in the energy and infrastructure sector to have the flexibility and resources to adapt and successfully risk assess the changing landscape. Creative contracting strategies will need to draw from analogous experience across multiple sectors to balance stakeholder interests.
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