The UK government has launched energy investment projects worth an estimated £5bn, in its latest offer for international investors.
Image: UK launches £5bn worth new energy investment projects. Photo courtesy of Mike Wilson on Unsplash.
The first Energy Investment Portfolio of the UK will include eleven new projects, which are expected to create jobs in the energy sector.
The new energy investment portfolio will be promoted by the Department for International Trade (DIT) to investors in 108 countries through its global network of HMTCs and in-country experts.
Aimed at reducing energy costs for consumers in the country, the Energy Investment Portfolio follows the launch of seven new investment projects in October, worth £2bn.
UK Minister for Investment, Graham Stuart said: “With £5 billion of new projects, the Energy Investment Portfolio is great news for communities up and down the country – as well as creating jobs and prosperity, these projects will reduce bills and deliver huge benefits for the environment.”
The projects included in the new portfolio are the City Leap Programme in Bristol; the Mishergas Waste to Fuel Plant; the Carlton Forest Waste to Energy Plant in Nottinghamshire; and new CoGen Waste to Energy Plants in Birmingham, Cardiff and North Lanarkshire.
Investments are also sought for a Reliagen integrated electric vehicle and battery storage facility in West London; and UK-wide projects including Gridserve’s Electric Vehicle Forecourt Network and Pivot Power’s battery storage and electric vehicle charging project.
As part of the new portfolio, Bristol City Council is seeking investment and development partners for a low carbon energy infrastructure programme of between £800m and £1bn.
The Carlton Forest Waste to Energy Plant in Nottinghamshire will require an investment of £60m. The plant will be owned and operated under a special purpose vehicle to be set-up by the developers.
The CoGen Waste to Energy plant will provide an investment opportunity of £190m.
As part of the new energy investment projects, Green Hedge Energy is offering a £50m portfolio of development rights in five battery storage facilities at various locations across the UK.
The Pivot Power, Integrated battery storage and electric vehicle charging project, which is a UK-wide programme, is estimated to need an investment of £1.6bn.