18 Nov UK unveils £12 billion ‘green industrial revolution’, with focus on offshore wind
The UK Prime Minister Boris Johnson has revealed details of a 10-point plan to spur on a ‘green industrial revolution’ that will mark the beginning of the country’s path to net zero emissions by 2050.
The £12 billion blueprint reiterates the government’s former pledge of developing 40GW of offshore wind capacity by 2030 and includes additional plans for 5GW of low carbon hydrogen for transport, industry and homes, an acceleration of nuclear deployment and new carbon capture schemes.
Over £2.3 billion of the total outlay will also be allocated to accelerate the transition to electric vehicles, after the UK brought forward its ban on sales of petrol and diesel cars by 10 years to 2030. A £1 billion energy innovation fund will also be established to explore ways of developing cutting-edge technologies needed to reach energy targets.
“Although this year has taken a very different path to the one we expected, I haven’t lost sight of our ambitious plans to level up across the country,” Johnson said. “My 10-point plan will create, support and protect hundreds of thousands of green jobs, whilst making strides towards net zero by 2050.”
Deputy chief executive of RenewableUK Melanie Onn welcomed the ‘ambitious’ plan: “Offshore wind is set to become the backbone of the UK’s electricity system, providing over a third of our power by 2030, and we can rapidly develop green hydrogen to decarbonise shipping, aviation and industry.
“The Prime Minister’s new 2030 hydrogen target is a vital signal to investors and the market, and we will work with Government to ensure our world-leading renewable hydrogen technologies play a full part in meeting that target,” she said.