Tuesday 21 November 2023

UK allocates £960m to support clean energy manufacturing

The UK Government has pledged £960 million for the creation of a Green Industries Growth Accelerator, signalling a commitment to bolster clean energy manufacturing.

The investment aims to support the expansion of clean energy supply chains, with a focus on key sectors such as carbon capture, utilisation and storage, electricity networks, hydrogen, nuclear and offshore wind.

Responding to the announcement, Claire Mack, Chief Executive of Scottish Renewables, expressed optimism about the potential of clean energy investment to create sustainable jobs and provide clean power for homes and businesses.

Ms Mack said: "This announcement provides a shot in the arm for a sector with tremendous potential. The devil, however, will be in the detail and we look forward to working with government to target this funding in the smartest ways in the years to come."

Co-Chair of the Offshore Wind Industry Council, Richard Sandford, welcomed the government's commitment, emphasising its role in scaling up the UK's offshore wind supply chain.

Mr Sandford said: "The UK already has many strengths in areas such as designing and manufacturing turbine blades and cables for offshore wind farms, as well as providing services such as planning and designing new projects, assembling turbines and providing crew transfer vessels.

"Overall the offshore wind supply chain could be worth over £92 billion to the UK’s economy by 2040."