In a major boost to the UK's green energy ambitions, the Government has welcomed more than £24 billion in private investment for pioneering energy projects, just days before the International Investment Summit on 14 October. These investments are expected to create thousands of jobs across the country in the fast-growing clean energy sector.

Prime Minister Keir Starmer hailed the news as a "huge vote of confidence" in the UK’s future as a global leader in renewable energy. He emphasized the government’s focus on driving growth and investment across the UK, pointing out that the upcoming summit will serve as a crucial platform to attract further investments.

Major international companies have committed to substantial financial backing. Iberdrola, one of Europe’s largest energy firms, has pledged to double its UK investments to £24 billion by 2028, including £4 billion for the East Anglia 2 offshore wind farm. Orsted and Greenvolt will invest £8 billion and £2.5 billion, respectively, in offshore wind projects, while SeAH Wind has announced an additional £225 million to expand its wind technology manufacturing facility in Teesside.

These commitments come alongside other notable investments, including £1.3 billion from Macquarie for green infrastructure, £300 million from BW Group for a new battery energy storage project in Birmingham, and £325 million from Holtec to build a factory in South Yorkshire to support the UK's nuclear power stations.

The announcement coincides with the Prime Minister’s first Council of Nations and Regions meeting in Scotland, which brought together key political leaders from across the UK to discuss strategies for further boosting investment and growth. Starmer stressed the importance of cooperation between nations and regions, stating, "When we work together in genuine partnership, we can deliver the real change people want to see."

Iberdrola’s Executive Chairman, Ignacio Galán, highlighted the UK's "clear policy direction and stable regulatory framework" as key factors in the company’s decision to increase its investment, further underscoring the UK’s attractiveness as a hub for clean energy development.

The investments mark significant progress in the UK’s journey toward energy security and achieving its Net Zero goals. With these announcements, the country solidifies its position as a global leader in renewable energy, setting the stage for further growth and innovation at the upcoming International Investment Summit.