UK secures £24bn in green energy investments

The UK government has secured over £24 billion ($31.39 billion) in private investments for innovative energy projects ahead of the International Investment Summit on 14 October 2024. These investments are expected to create thousands of jobs and drive growth in the UK’s clean energy sector, spanning from Yorkshire to Suffolk, Aberdeen, and Stow.

Key companies involved include Iberdrola, Ørsted, SeAh Wind, Macquarie, BW Group, and Holtec, with substantial commitments to renewable energy projects. Iberdrola’s subsidiary Scottish Power will double its UK investment to £24 billion by 2028, including £4 billion for the East Anglia 2 wind farm. Ørsted plans £8 billion for future projects, while SeAh Wind is investing £225 million in a wind technology manufacturing facility in Teesside.

Further investments include Macquarie’s £1.3 billion for green infrastructure, BW Group’s £300 million for battery storage in Birmingham, and Holtec’s £325 million for a manufacturing facility in South Yorkshire.