Companies planning £2.5 billion of investment in UK renewable energy

December 29th, 2011 by HM Government Department of Energy and Climate Change

Chris Huhne, UK Secretary of State for Energy and Climate Change, has revealed more evidence of the economic benefits of renewable energy as he reaffirmed the UK government coalition’s commitment to meeting European Union renewable energy targets. This came as the UK published an update on progress to source 15% of all energy from renewable sources by 2020.

Chris Huhne, UK Secretary of State for Energy and Climate Change, giving his Keynote address to the Annual RenewableUK conference in Manchester on 26 October 2011 (click image to expand - ©RLLord)

Latest research from DECC shows that so far this financial year, companies have announced plans for almost £2.5billion worth of investment in renewable energy projects in the UK, with the potential to create almost 12,000 jobs across the country.

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A separate report on the ‘Promotion and Use of Energy from Renewable Sources for the UK‘ to the European Commission showed that the UK:

• Achieved a 27% increase in renewable energy consumption from 42.6TWh in 2008 to 54TWh in 2010 – representing 3.3% of total energy consumed.
• Increased wind generation by 46% from 7TWh in 2008 to 10.2TWh in 2010, and in 2010 achieved 5GW of offshore and onshore wind capacity; and
• Saw a threefold increase in the use of biofuels in transport from 1% of total road transport fuel supply in 2007/8 to 3.33% in 2010.

Chris Huhn said “renewable energy is not just helping us increase our energy security and reduce our emissions. It is supporting jobs and growth across the country, and giving traditional industrial heartlands the opportunity to thrive again.

“Our renewable target is less demanding than other EU member states, but the effect is bringing real jobs and investment.

“I do not want the UK to be left behind by turning our back on the green economy. The agreement to negotiate a global deal secured at Durban has reinforced major nations’ commitment to cutting carbon. We cannot afford to stand alone while the world wises up.”