Britain won't reach its net zero goals due to an incapability to build the infrastructure required to do so, a new report has warned.

A 'readiness study', commissioned by the Department for Energy Security and Net Zero (DESNZ), warns a shortage of ships, steel and concrete in quantities needed to build wind farms, solar farms and transmission networks will prevent the country from reaching its goal.

The study adds that there's a lack of ships to build offshore wind turbines, and even if that was to be solved, the UK wouldn't be able to produce enough high voltage cables to connect them to the shore.

"Achieving the renewables deployment ambitions outlined in the British Energy Security Strategy will be very challenging without significant coordination across industry and Government to resolve supply chain constraints," according to the authors of the report, Rob Gilbert and Stuart Williams.

Shortages of switchgear and transformers, as well as cables, means the UK is incapable of building enough solar panels.

It's not only parts shortages that are having an impact; the report finds shortages of skilled labour are also a factor.

It says: "All renewables sectors face skills-related constraints. Shortages are particularly acute for design and commissioning engineers, project managers, and installation technicians."

A spokesman for DESNZ says the UK is already addressing a number of issues raised in the report.

He said: “We are confident in and committed to meeting our renewables ambitions, with strong plans for doing so.”

FTSE 100

The UK's flagship share index, the FTSE 100, was up 33-points at 7,881 shortly after opening this morning.

Brent crude oil futures were up 0.08%, trading at $87.36 a barrel.

Companies reporting today

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