£10 billion to support green policy

France, Alpes-de-Haute-Provence (04), Puimichel. Les Mees. Solar farm
Author Alexander Tatiev
Category Columnists, Town
Date March 9 2024
Reading Time < 1 min.

£10 billion to support green policy

NatPower, an innovative British startup supported by a major European energy group, has announced a £10 billion investment to create the largest battery storage facility in the UK. The first part of the investment will go towards establishing three “gigaparks,” with plans to create an additional 10 next year. These gigaparks will not only strengthen the country’s renewable energy infrastructure but also address key challenges in decarbonising the British energy system and transitioning to renewable sources such as wind turbines and solar panels.

Geographically, the first two gigaparks are intended for the north of England, with another planned for the west of the country later in the year. By utilising industrial land and entering lease agreements with farmers, NatPower aims to optimise existing resources for these revolutionary projects.

Global events, including Russia’s invasion of Ukraine in 2022, have significantly increased demand for green energy technologies and initiatives. However, logistical obstacles within the country and inflationary pressures also pose significant challenges. Nevertheless, recent budget reforms, including the allocation of £120 million to strengthen low-carbon supply chains and a record £1 billion for offshore wind projects, inspire hope for a revival of the country’s green energy sector.