UK confirms $2.6b green project funding
Inclusion of funding in government’s budget ends uncertainty over support for 11 electrolytic projects
The UK government has confirmed the allocation of funding worth up to £2b ($2.6b) over 15 years to 11 green hydrogen projects with a total capacity of 125MW. The projects were selected by the previous Conservative government to receive funding via the country’s inaugural subsidy allocation round. However, the status of the support had been uncertain after the Labour party took power following a general election in July. “Today, I am providing funding for 11 new green hydrogen projects across England, Scotland and Wales. They will be among the first commercial-scale projects anywhere in the world,” said Chancellor Rachel Reeves in a budget speech to parliament. The subsidies will be paid out
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
15 November 2024
Danish electrolyser firm stays focused on US expansion plans amid policy uncertainty in wake of Republican election victory