Tech giant Siemens and a host of mayors and council leaders have teamed up to bring forward new green energy projects worth over £100bn.
The partnership sees Siemens and the UK100, a network of local government leaders, working with the Department of Business, Energy and Industrial Strategy (BEIS) to bring together financing from local authorities, private capital and government investment to commercial scale clean energy projects.
The partnership will build on the development of five Local Energy Projects (LEPs) which are being created by BEIS in the North West; Yorkshire, Humber & the North East; Greater South East; Midlands; and the South West.
The aim is to accelerate the UK’s progress toward its own net-zero emissions by 2050 and toward the country’s commitment to the Paris Climate Agreement.
A survey of local authorities carried out by UK100 and Siemens suggest that there is a pipeline of over £100bn of clean energy projects which could be rolled out with support from both public and private sector participants.
The survey also suggests that both investors and local councils are calling for more support from central government, providing additional development capital, and support in developing a business case for clean energy projects.
Polly Billington, director of UK100 said: “Siemens commitment to this partnership is a sign that the private sector is taking local energy schemes seriously and can help local government to play its part in meeting our ambition of net-zero emissions.
Carl Ennis, managing director, Siemens Smart Infrastructure, added: “Local government is in a strong position to help the UK shift to 100% clean energy.
“We will work with Local Energy Hubs to develop clean energy action plans which will make credible business cases to attract investors and make sure that these plans have support from local communities.”