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Friday, March 24, 2023

UK unveils £375m investment for innovative energy technologies

The UK Government has launched a wide-ranging £375 million package of support for innovative energy technologies that will power British homes and businesses for decades to come and further strengthen the nation’s energy security.

Boris Johnson
Britain’s Prime Minister, Boris Johnson. Photo credit: AP Photo/Alberto Pezzali

This includes £240 million to support the production of hydrogen as a clean, low-cost energy technology, £2.5 million of funding to develop next-generation nuclear technology and a further £5 million towards research into carbon capture.

Investment will support research, development and deployment of these cutting-edge technologies and give the country the energy independence it needs, reducing reliance on expensive fossil fuels.

“British energy security strategy”, unveiled by the Prime Minister, Boris Johnson, sets out how Great Britain will accelerate the deployment of wind, new nuclear, solar and hydrogen, whilst supporting the production of domestic oil and gas in the nearer term – which could see 95% of electricity by 2030 being low carbon.

Kwasi Kwarteng, Business and Energy Secretary, said: “This investment will unlock the enormous potential of hydrogen, advanced nuclear reactors and Carbon Capture to level up the UK energy landscape and deliver for businesses and households.”

Malcolm Offord, UK government for Scotland Minister, said: “Harnessing the enormous potential of low-carbon technology is at the core of our plans to bolster the UK’s domestic energy supply, for the benefit of families and businesses across the country.”

Read the full article here.

Courtesy: Climate Action

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