Saturday 17 November 2018

Government launches £5bn energy investment portfolio

The government has announced an energy investment portfolio worth around £5 billion that will be promoted to international investors.

It consists of 11 new investment opportunities, including the £65 million Mishergas Waste to Fuel Plant in Bristol, the £60 million Carlton Forest Waste to Energy Plant in Nottinghamshire and around £480 of CoGen Waste to Energy Plants in Birmingham, Cardiff and North Lanarkshire.

Around £40 million of investment for a Reliagen integrated electric vehicle and battery storage facility in West London and almost £3 billion for UK-wide projects including GridServe’s Electric Vehicle Forecourt Network and Pivot Power’s battery storage and electric vehicle charging project are also part of the portfolio.

The Department for International Trade (DIT) will promote the opportunities to investors in 108 countries through its global network of Her Majesty's Trade Commissioners (HMTCs) and in-country experts - the department has nine HMTCs, who are industry experts responsible for regions across the world and concentrate on specific markets for trade.

Latest figures from UN Conference on Trade and Development reveal only China secured more inward investment than the UK in the first six months of 2018.

The UK is Europe’s top destination for foreign direct investment and inward investment is estimated to have created nearly 76,000 new jobs in 2017/18.

Dr Liam Fox MP, International Trade Secretary and President of the Board of Trade said: “The Energy Investment Portfolio will deliver growth in new innovative sectors, encouraging creativity, creating jobs and driving prosperity across the UK.

“My international economic department has established relationships with the world’s most influential investors to ensure that the UK continues to be the top destination in Europe for Foreign Direct Investment – and today’s announcement is further proof that there is huge demand for UK projects from investors.”