Home > Latest News > Business Funding & Support > ScottishPower’s multi-billion investment in UK clean energy is vote of confidence in Government’s clean power mission

ScottishPower’s multi-billion investment in UK clean energy is vote of confidence in Government’s clean power mission

Wendy

10/14/2024 8:55:16 AM

Commenting on Iberdrola’s announcement that ScottishPower will double its investment in UK renewable energy projects and grid infrastructure over the next four years from £12 billion to £24 billion, RenewableUK’s Executive Director of Policy Ana Musat said:

 

“This is a huge vote of confidence in the UK’s energy market and in the new Government’s clear commitment to the energy transition in its clean power mission, which will include key reforms to the planning system to enable vital new energy infrastructure to be built faster.

 

“It shows that the UK is one of the most attractive destinations for international investment which will be instrumental in securing tens of thousands of new jobs in Britain’s world-class clean energy sector. The Government’s International Investment Summit in London, which opens on Monday, also demonstrates the scale of the UK’s ambition to boost our position as a global leader in green growth.

 

“To continue securing investment, it is essential that the Government ensures the business environment remains as attractive as possible, and that the reforms needed to accelerate the energy transition are not detrimental to investor confidence. For example, the upcoming package of electricity market reforms should evolve our market arrangements carefully, and steer clear of options like zonal pricing, which would increase the cost of investment across all technologies and make the attainment of clean power by 2030 more expensive”.

Other Articles You Might Like

Wendy

7/2/2025 11:20:03 AM

Designs founder to focus on strategy after appointing colleague as new MD
An entrepreneur who has spent more than 30 years positioning his business as a leader in the signage industry is making ...
Business News 1 min read

Wendy

7/7/2025 10:07:49 AM

Hard Hats, Soft Hearts: Spencer Group recognised for outstanding commitment to employee wellbeing
A leading Hull employer has been recognised for its dedication to employee wellbeing, social responsibility and fosterin...

Wendy

8/11/2025 10:53:05 AM

Dino Day draws huge crowds and delights city centre businesses
A crowd of thousands filled the air with screams of excitement and delight as Dino Day delivered another roar-some perfo...
Events & Networking 4 min read

Wendy

4/29/2025 1:46:25 PM

Strong support from industry for VPI’s call for clarity on carbon capture project progress
Regional economic drivers and leading industrial voices have backed a call for the Humber’s carbon capture plans to be c...