The UK Government has unveiled a comprehensive Clean Energy Industries Sector Plan, with an aim to significantly increase investment in the nation’s clean energy sector.
The strategy aims to bolster private investment levels to exceed £30bn ($40.78bn) annually by 2035, a move expected to create a surge in job opportunities and position the UK as a leader in clean energy.
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Comprising a collaborative effort involving industry, trade unions, and workers from various regions, the initiative is part of the government’s commitment to fostering a clean energy economy.
It follows a spending review that earmarked unprecedented funding for domestic energy projects, including nuclear power initiatives and carbon capture technologies.
As part of the plan, Great British Energy is set to receive an additional £700m to develop domestic manufacturing for clean power components, adding to the initial £300m allocated for offshore wind supply chains.
This funding is anticipated to generate a total of £1.7bn in public and private investment in clean energy supply chains, with the potential to unlock thousands of jobs and stimulate growth in coastal and industrial communities.
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By GlobalDataUK Energy Secretary Ed Miliband said: “This government is doubling down on Britain’s clean power strengths as we build this new era of clean energy abundance, helping deliver good jobs, energy security and lower household bills.”
Centre for Net Zero CEO and founder Lucy Yu has been appointed as the government’s Clean Energy AI Champion. Her role will involve promoting the use of AI within the UK’s clean energy sector to accelerate the transition to net zero.
The government is also considering expanding the Clean Industry Bonus, a financial incentive for offshore wind developers, to encompass other sectors such as hydrogen and onshore wind. This expansion aims to channel investment towards regions in need, including communities with historical ties to oil, gas, and industry.
Great British Energy chief executive Dan McGrail said: “Great British Energy will help the UK win the global race for clean energy jobs and growth by investing in homegrown supply chains and ensuring key infrastructure parts are made here in Britain.
“We are working closely with businesses across the clean energy sector to invest in areas of strategic need and will get funding out as fast as possible to get new projects off the ground.”
The government’s Plan for Change includes financial support for coastal and rural communities, mandating renewable energy developers to contribute to local community benefit funds.
These funds will improve local facilities, transport, and apprenticeship opportunities, with an emphasis on areas hosting clean energy projects.
