Canada supplants UK in EY index

Canada overtakes the UK in the latest renewables attractiveness index compiled by accountants Ernst & Young (EY), with the latter suffering from ongoing policy uncertainty.

EY’s quarterly index, which ranks countries as attractive destinations for RE investors and developers, has the UK down one place to sixth.

Canada replaces Britain in fifth place thanks to its auction programme for large-scale renewables.

EY said the UK’s decline is “mainly due to conflicting signals over the future of support for renewables beyond the 2015 election, as well as the proposed cap on solar power projects eligible for Renewable Obligation support being introduced two years earlier than planned”.

The US stays in top spot, followed by China, Germany and Japan.