The UK is the eighth most attractive destination for investment in renewable energy globally.

That’s according to the latest edition of EY’s renewable energy country attractiveness index (RECAI), which ranks 40 countries on their renewables investment and deployment opportunities.

The UK has retained its 8th place on the leaderboard following its Offshore Wind Sector Dealunveiled in March which is targeting 30GW of capacity and aims to ensure the sector supplies 30% of the nation’s electricity by 2030.

It has also set a target to treble the number of people employed in the industry to 27,000 during that period.

The Deal involves industry investing around £250 million over the next 11 years, in exchange for the £557 million in subsidies for renewable energy already announced.

Ben Warren, EY Global Power & Utilities Corporate Finance Leader and RECAI Chief Editor said: “While the Offshore Wind Deal is extremely positive news for the UK renewables sector and will help to attract significant investment over the coming years, the announcement regrettably follows the withdrawal of support for onshore renewables in 2016 that has slowed UK sector growth.”

According to figures from trade body RenewableUK, only 598MW of onshore wind was installed in the UK – down from 2.7GW in 2017.