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Green £100 million Government investment

A push for green investment will be announced today by the Deputy Prime Minister, as the Government hope to achieve 30-45% renewable energy in the UK by 2030.

Nick Clegg will announce £100 million worth of funding to Non-Domestic Energy Efficiency fund managers, Equitix and SDCL at the British Business Embassy, in a bid to achieve the Government’s carbon reduction aims.

The investment into fund managers has a view to attract overseas and home investors, create jobs in the UK, as well as raising capital and creating sustainable investment.

Equitix and SDCL will manage investments in energy efficiency projects, ranging from energy performance contracts to reducing energy consumption in public and private sector buildings.

The announcement comes as part of a two day focus on energy at the business summit held at Lancaster House during the Olympics Games. The fund will be provided by UK Green Investments (UKGI), from the Department for Business, Innovation and Skills.

Nick Clegg bolstered the drive for renewable energy and sustainability, and emphasised the Coalition’s hopes for efficiency and green-thinking.

He said: “ There is a global energy revolution underway. And the UK is not going to be left behind. We’re leading from the front.

“Together we find ourselves at the vanguard of one of the most dynamic, most innovative, most important industries of our time; an industry whose breakthroughs and endeavours will shape our societies for years to come; an industry that will help us build a more stable, more sustainable, more prosperous world.”

Today’s summit will focus on UK energy infrastructure, addressing the conversion, distribution and use of energy through the ecosystem, as well as looking at technology sectors that will deliver the best results for energy efficiency in the future.

Clegg’s optimism was met by the UK Secretary of State for Energy and Climate Change Edward Davey, who is also speaking at the event.

Davey commented: “The UK Government is taking the necessary steps to develop a secure, clean energy mix, and this is opening up massive, long-term investment opportunities.

“Whether it’s our surging renewables sector or North Sea oil and gas exploration, new nuclear power or carbon capture and storage, there has never been a more exciting time to be in the UK energy sector.

“Britain is one of the easiest places to do business in the world and I am determined to maintain our reputation as a stable destination for energy investment.”

Image by Carbon Visuals

This was posted in Bdaily's Members' News section by Miranda Dobson .