Friday 15 December 2023

UK injects £400m in 11 green hydrogen projects

UK injects £400m in 11 green hydrogen projects

The UK Government will inject £400 million into 11 major green hydrogen projects over the next three years.

Energy Security Secretary Claire Coutinho announced the initiative, which aims to boost the country's green economy and create more than 700 jobs.

The government is offering a guaranteed price for the clean energy supplied, further supporting the UK's ambition to deploy up to 10GW of low carbon production capacity by 2030.

Companies involved include Sofidel in South Wales, InchDairnie Distillery in Scotland and PD Ports in Teesside.

In addition, the government has decided to support hydrogen blending in certain scenarios, pending safety assessments and a final agreement.

This move aims to reduce costs in the hydrogen sector and support the wider energy system.

Minister for Energy Efficiency and Green Finance Lord Callanan said: "Today’s funding commitment represents a monumental step forward in helping producers to deliver a fuel of the future today, backing businesses to go greener.

"This will be essential to achieving our net zero targets and will benefit people across the UK with the job and investment opportunities that this funding will bring."

Written by

Sumit Bose

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