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ibusinesslines.com July 16, 2018


United Kingdom to provide £557m funding for new renewable energy projects

13 October 2017, 11:56 | Erica Roy

United Kingdom to provide £557m funding for new renewable energy projects

Turbines of the Burbo Bank offshore wind farm lay in the wake of a maintenance boat in the mouth of the River Mersey

The government will also invest £900 million in smart systems and demand-response technology, as well as nuclear and renewables.

Responding to the announcement, RenewableUK's chief executive, Hugh McNeal said "This government has unveiled an ambitious plan which sets us firmly on a course to deliver the modern, clean energy system which the United Kingdom needs". It's as big a change as the move from the age of steam to the age of oil and Britain is showing the way.

"Government is clear that clean growth is a priority for the United Kingdom, and that the low-carbon sector can help to increase the competitiveness and productivity of our economy in the decades ahead, creating high-value jobs as well as taking effective action on climate change".

Low-carbon innovation is at the heart of the government's approach, climate change and industry minister Claire Perry said in a written statement to parliament.

As per the government, the last auction which was held this September, saw the cost of offshore wind being reduced to half compared to the first auction held in 2015.


Scottish Secretary David Mundell said: "This UK government investment is vital in realising the potential of less established renewable technologies, as well as providing Scottish jobs in the projects supported".

The offshore wind industry has helped create thousands of highly skilled jobs at factories in Hull and the Isle of Wight, and a burgeoning local supply chain across the country.

From offshore wind to electric vehicles, the Department for Business, Energy and Industrial Strategy's (Beis) clean growth strategy details how £2.5bn worth of funding will be dolled out by 2021 to tackle carbon emissions.

The UK government today released its Clean Growth Strategy, a plan to cut emissions, while delivering economic growth, including policies and proposals on transport, power, housing, business and the environment. "Onshore wind is the cheapest form of new power generation, and it would be exciting to see what projects in the right places could deliver for United Kingdom consumers".



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