Billions secured for clean energy investment

The UK government has announced thousands of jobs and over £24 billion in private investment for clean energy projects.

Private investors, including Ørsted, GreenVolt, Iberdrola and SeAh Wind UK have confirmed investments that will deliver growth in green industries across the UK and create thousands of jobs in the sector.

Investments announced include:

• a doubling of UK investment from Iberdrola over the next four years to £24 billion, making the UK their largest investment destination. This will include £4 billion for the East Anglia 2 wind farm off the Suffolk coast;
• £8 billion investment by Ørsted nd £2.5 billion by Greenvolt into their planned offshore wind farms
• an additional £225 million investment by SeAH Wind to expand their their wind technology manufacturing facility in Teesside. This will create 750 new jobs by 2027 and make the facility one of the biggest of its kind worldwide;
• £1.3 billion investment by Macquarie for new green infrastructure, including its Island Green Power solar farm in Stow, and its Roadchef portfolio company installing electric car ultra-fast charging points across its sites along the UK motorway network;
• £300 million investment by BW group for a new battery energy storage project in Birmingham;
• £325 million investment by Holtec, for a new factory in South Yorkshire which will supply materials for Hinkley Point C and likely Sizewell C power stations. This will create up to 490 direct and 280 indirect jobs annually during the construction phase and 1,200 direct engineering jobs created over 20 years.    

Energy Secretary Ed Miliband said: “The government’s clean energy superpower mission is not just about taking back control of our energy system to protect consumers – it is also about powering economic growth through good jobs. These investments are a decisive vote of confidence from the private sector in our mission-led approach.”

Prime Minister Keir Starmer commented: “Today’s investments are a huge vote of confidence in this government and our relentless focus to drive growth across the UK.”