The Government has announced £960 million of funding for clean energy in a Green Industries Growth Accelerator.

The Green Industries Growth Accelerator investment will support the expansion of strong, home-grown, clean energy supply chains across the UK, including carbon capture, utilisation and storage, electricity networks, hydrogen, nuclear and offshore wind.

With existing plans for net zero transition, the package is intended to unlock private investment akin to the existing approach the Governments says has mobilised £198bn in public and private investment in low carbon energy deployment since 2010.

Energy Security and Net Zero Secretary Claire Coutinho said: “Today we are announcing nearly £1bn to back our green industries. While we’ve already attracted £200bn in low carbon investment since 2010, with another £100bn expected by 2030, this will unlock even more. We have long been energy pioneers in advanced manufacturing, and this will allow us to carry on that great British tradition.”

The UK’s first Battery Strategy is also expected to be published next week, which will outline the Government’s activity to achieve a globally competitive battery supply chain in the UK by 2030 that supports economic prosperity and the Net Zero transition.

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