'A shot in the arm': green groups welcome $1bn UK clean energy manufacturing pledge
Funding will not only support UK projects but also capacity to export 'world-class' products globally, says offshore wind chief
The renewables industry has welcomed a new UK government pledge to provide almost £1bn ($1.2bn) in funding to support clean energy manufacturing as a “shot in the arm” for the sector.
The government announced that it has earmarked the sum for its Green Industries Growth Accelerator plan to support “home-grown, clean energy supply chains across the UK.”
That includes carbon capture, energy storage, electricity networks, hydrogen, nuclear and offshore wind.
That came as part of a wider £4.5bn package of investment in “strategic manufacturing sectors,” including aerospace, automotive and life sciences.
Energy Security and Net Zero Secretary Claire Coutinho said that while the UK had “already attracted £200bn in low carbon investment since 2010, with another £100bn expected by 2030, this will unlock even more.”
“We have long been energy pioneers in advanced manufacturing, and this will allow us to carry on that great British tradition.”
RenewableUK CEO Dan McGrail said that amid “fierce” international competition for investment in clean energy manufacturing, UK chancellor Jeremy Hunt was “right to take a more proactive approach to stimulate green industrial growth.”
“The UK's leadership in areas like offshore wind has given us a strong foundation to build on,” he said.
“But with the global market set to skyrocket in the years ahead, we should be looking to capture as much of this multi-billion pound opportunity as we can through a more strategic approach to building the UK’s manufacturing base.”
Industry estimates that the offshore wind supply chain alone could boost the UK's economy by £92bn by 2040.
Claire Mack, chief executive of Scottish Renewables, said the announcement is 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.”
Richard Sandford, co-chair of the UK’s Offshore Wind Industry Council, said the funding will help to scale up the UK’s offshore wind supply chain faster in the face of “unprecedented international competition for investment in new manufacturing facilities.”
“This will not only enable us to supply projects in UK waters but also to export our world-class offshore wind products and services globally, where they are already in great demand.”