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UK renewable energy will attract new investments worth £20 bn

UK renewable energy

It is reported that clean energy contracts slated for next year will have a positive effect on the UK economy

The UK renewable energy has the capacity to create 12,000 new jobs and attract approximately £20 billion worth of new investments as part of the country’s economic recovery strategy. It is reported that clean energy contracts slated for next year will have a positive effect on the UK economy on the back of the government’s continuous efforts to increase the benefits. 

RenewableUK’s Director of Strategic Communications Luke Clark, told the media, “The Prime Minister and the Chancellor want to build back greener; putting low-cost renewables at the heart of this agenda is a no-regrets option that will get investment flowing into the economy quickly and create jobs. Government has the tools it needs to put a rocket under renewable energy projects, which will make it much easier to achieve wider net zero objectives like the switch to EVs and low carbon heating.”

It appears that the estimated jobs and investments will be largely created in the construction sector of clean energy projects. In fact, wind power companies in the UK have announced new contracts and investments worth more than  £4 billion along with creation of over 2,000 jobs despite the economy’s contraction. 

Also, the development of renewable infrastructure in the UK is expected to accelerate decarbonisation of transport and domestic heating sectors, media reports said. 

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