UK Approves Early Power-Project Funding in Race for Grid Parts

The UK approved more early construction funding for power-grid projects, as part of efforts to boost renewables generation and secure equipment amid supply-chain snarls and competition from other nations.

Energy regulator Ofgem granted such funding for power lines and upgrades at some transmission projects in Scotland, taking the number approved in its fast-track grid pipeline to 26, it said in a statement Tuesday. That allows companies to get a head start in locking in things like heavy duty cables and substation equipment, where global bottlenecks have threatened timelines.