Sources
Investment in UK clean energy industries since July 2024
This table provides a breakdown of key projects and plans which make up the over £50 billion of private investment which has been announced into the UK’s clean energy industries since July 2024.
Project/ announcement
Private investment
Link to source
Iberdrola doubling their investment in the UK, through Scottish Power, from £12 billion to £24 billion over the next 4 years. This includes £4 billion for the East Anglia 2 wind farm off the Suffolk coast which was unlocked by this Government’s expanded allocation at the most recent wind auction round. Iberdrola Executive Chairman Ignacio Galan CBE confirmed on Friday that the UK has become their largest Investment destination.
£12 billion
CCUS investors (including Eni, BP and Equinor) reached a commercial agreement with the government that will unlock £8 billion of private investment to launch carbon capture clusters in the heartlands of the North West and North East of England, directly creating 4,000 jobs and supporting 50,000 jobs in the long-term.
£8 billion
Greenvolt confirming that the Government’s recent expanded offshore wind auction means their project will unlock £2.5 billion (Greenvolt) of investment respectively in their planned offshore wind farms. Orsted says its commitment will see thousands of jobs for local people, while Greenvolt says it will create up to 2800 construction jobs.
£2.5 billion
Octopus Energy have committed to a £2 billion investment in renewable energy generation, including four new solar farms in Bristol, Essex, East Riding of Yorkshire and Wiltshire that will power up to 80,000 homes as well as breaking ground on a new 12 MW battery in Cheshire which Octopus say will store enough power for nearly 10,000 homes every day.
£2.0 billion
Macquarie supporting investment of £1.3 billion into new green infrastructure including its Island Green Power solar farm in Stow, as a result of planning consents having been granted by the Government, and its Roadchef portfolio company installing electric car ultra-fast charging points across its sites along the UK motorway network.
£1.3 billion
BW Group proceeding with a £500 million investment, which includes new battery energy storage projects in Hampshire and Birmingham.
£500 million
SeAH Wind has made an additional £225 million investment into wind technology manufacturing in Teesside, thanks to new backing from UK Export Finance, and expects to create 750 direct jobs by 2027. This brings their total investment into the site at Teesworks up to £900 million and will help them make their ongoing factory build – one of the biggest facilities of its kind worldwide – even bigger.
£200 million
National Grid announced that Ofgem approved Eastern Green Link 2 - at £4.3 billion it will be the single, largest-ever investment in electricity transmission infrastructure in Great Britain.
£4.3 billion
Barclays UK Corporate Bank and Lloyds Banking Group, NatWest, and Rothesay between them unlock £1.65 billion to retrofit social housing backed by guarantees from National Wealth Fund.
£1.7 billion
Government affirmed the successful HAR1 projects in the 2024 Autumn Statement.
£400 million
Statera Energy announced financial close on £395 million debt financing platform for Thurrock Flexible Generation
£400 million
Copenhagen Infrastructure Partners announced Financial Investment Decision for Coalburn 2 and Devilla, battery energy storage system projects in Scotland representing investment of £800 million.
£800 million
Renewable energy developer OnPath announced their ambitions to invest £1 billion in clean energy projects across the UK.
£1 billion
Quinbook Infrastructure Partners announced the close of £239 million in financing for Cleve Hill Solar Park, the UK’s largest solar and battery storage project under construction.
£200 million
Cerulean Wind announced that Aspen’s Floating Wind Delivery Consortium will deliver of thousands of jobs and £5.9 billion in UK investment
£5.9 billion
The UK has secured £7.5 billion Japanese investment in key growth sectors with Sumitomo Corporation.
£7.5 billion
Quebec based global investment group, La Caisse, announced its commitment to invest up to £1.7 billion into Sizewell C.
£1.7 billion
Centrica announced it has signed an agreement to acquire a 15% equity stake in Sizewell C with committed construction funding of £1.3 billion.
£1.3 billion
MaresConnect Interconnector is expected to result in approximately €860 million of private capital investment in Ireland and Wales and will create long-term jobs in construction and operations.
£700 million
Ofgem has approved the £700 million 700MW LirIC interconnector from Kilroot in Northern Ireland to Hunterston in Ayrshire, Scotland.
£700 million
Ofgem has approved the Tarchon Energy Interconnector between England and Germany.
£1.2 billion
Pulse Clean Energy has secured £220 million for six UK battery storage systems.
£200 million
Additional calculation notes
Renewable capacity: The Secretary of State for Energy Security and Net Zero consented combined offshore wind and solar capacity of more than 4 GW between July 2024 and the end of June 2025.
Homes powered: renewable capacity: The estimate of homes powered reflects the equivalent number of homes that could be powered from this consented capacity, based on a combination of published load factors (solar PV – 2023 Electricity Generation Costs Report) and developer estimates. Actual generation will vary somewhat based on site-specific factors.
The estimate uses household consumption estimates sourced from the published Subnational Electricity and Gas Consumption Report.
It is not possible to continuously power a home through intermittent renewables – this capacity will work alongside the rest of the electricity system to power homes and businesses.
Homes powered: Nuclear capacity; Estimate available from EdF (Sizewell C nuclear power station | EDF), using expected annual generation and average household consumption estimates.
Jobs (Sizewell C): A generic large scale nuclear power plant is estimated to support 10,000 jobs at peak construction. This is based on DESNZ Energy Innovation Needs Assessments, which use cost information to estimate the economic impact of different technologies in the UK’s energy system.
EdF have stated that 1,500 Sizewell C apprenticeships will be available over the course of the construction period (Powering Britain’s Future – Sizewell C.
Great British Energy: Great British Energy to cut bills for hospitals and schools – GOV.UK