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

5/30/2025 10:04:13 AM

Wykeland appoints new Finance Director as long-serving FD steps down
Leading Yorkshire-based commercial property and investment business Wykeland Group has appointed Chris Crookham as Finan...
Business News 4 min read

Wendy

6/19/2024 8:27:56 PM

Barnsley and Rotherham Business Awards opens for nominations
Barnsley & Rotherham Chamber is calling on local companies to celebrate their achievements over the past twelve months b...
Business News 4 min read

Rachel

1/30/2024 9:44:22 AM

Lexus dealership will help steer Power Hour into the fast lane
A series of free business events set up to drive the development of the region’s digital economy has shifted up a gear b...
Events & Networking 1 min read

Wendy

6/4/2025 1:01:29 PM

New stakeholder manager unveiled by Humber Marine & Renewables after funding success
Dave Dawson, left, is welcomed by Humber Marine and Renewables chair Andrew Oliver.