Foreign investors to pump £10bn into UK green infrastructure
The Prime Minister will today announce the UK has secured £9.7bn of new foreign investment in UK green infrastructure at the Global Investment Summit.
He hailed 18 planned investment deals in wind and hydrogen energy, sustainable homes and carbon capture that will support green growth and create up to 30,000 jobs.
Among the headline commitments, Spanish electric utility giant Iberdrola confirmed it will invest £6bn in the East Anglia Hub through Scottish Power, subject to securing planning consent.
This will be Iberdrola’s biggest offshore wind development anywhere in the world and would supply enough green energy to power 2.7 million British homes, while creating 7,000 jobs.
While global logistics firm Prologis intends to invest £1.5bn over the next three years to develop net zero carbon warehouses across London, the south east and Midlands.
Malaysian conglomerate Petra Group will invest £30m in establishing its Petra Modular business for production of sustainable modular homes, creating 225 jobs. It will also invest £30m in establishing Petra Group’s ‘Green Rubber’ business in the UK, which will see the development of a production facility creating 110 jobs.
Other deals announced at Global Investment Summit
US-owned waste specialist Viridor plans to invest up to £1bn in latest decarbonisation technology at its five UK sites to become the first net zero waste company by 2030.Turkish-owned Eren Paper is investing £500m to acquire a mill in Shotton, North Wales, and convert it to produce cardboard manufactured from paper waste. The mill will be powered by biomass fuel.Budweiser Brewing Group and green hydrogen energy services Protium have teamed up to invest more than £100m in a new hydrogen generation system to fuel the brewery’s production and also its key logistics assets, including heavy goods vehicles and forklift trucks.Jacobs will create over 150 jobs as it grows its high-tech Birchwood laboratory in Warrington, where Jacobs carries out research and development to support critical UK national infrastructure.Huaneng will invest in the 50MW Battery Storage project in StoneHill. This greenfield project is a major new milestone for energy storage in the UK and will employ local partners in construction and operationsHiPoint AG will invest £50m to create five new facilities for the recovery and processing of horse stall waste into reusable bedding, fertilizer & bio-fuels, creating 90 jobs across the UK.Ultimate Battery Company will invest £28m setting up a UK production plant for lightweight, eco-friendly batteries, creating 300 jobs.Global Marine will invest £10m in building hybrid engine crew transfer vessels and surface effect ships to service offshore wind infrastructure, creating 10 jobs in the East of England.HyPoint will invest £6.6m establishing a HQ in the South East for the development of their next generation hydrogen fuel cell system, creating 10 jobs.Treedom will establish a UK office in London for their online platform for planting trees, creating 10 jobs.Tes Amm is creating 15 new jobs in Scotland, doubling its electronic waste recycling solutions for lithium-ion batteries from electric vehicles, consumer electronics and IT & mobile technologies.Sumitomo Corporation are launching Presidio Ventures Europe, a venture arm of Sumitomo, focused on energy and mobility.Peer-to-peer lending firm Zopa has raised £220m, led by Softbank Vision Fund 2, to grow their responsible and sustainable banking and lending services in the UK.Getir plan to invest £100m to rapidly expand its sustainable and superfast grocery delivery service across the UK, creating 7,000 permanent jobs in 2022. The business utilises a 100% electric fleet of delivery vehicles.