UK Government awards decarbonisation funding
A £410mln investment seeks to accelerate fusion energy development, with a further £51.9mln available for businesses adopting emissions-cutting projects.
Both funding streams feed into government's Plan for Change programme.
The government says the £410mln investment represents record funding into fusion energy to drive growth into the energy of the future.
The funding will support the rapid development of the UK fusion energy sector over 2025 to 2026 with investment in the skills needed for scientists, engineers, welders and programme managers to enter the cutting-edge industry. Fusion already supports at least 2,400 jobs in the UK, with more to follow as the technology advances.
Industry leaders have been shortlisted by UK Industrial Fusion Solutions (UKIFS) to help construct a world-leading fusion power plant in Nottinghamshire.
Five construction and engineering bids have progressed to the next round of the UKIFS competition to deliver the prototype fusion energy plant by 2040, driving progress towards the commercialisation of fusion in the UK.
The prototype fusion energy plant is set at the site of a former coal power plant in Nottinghamshire.
Energy Secretary Ed Miliband says, ‘After scientists first theorised over 70 years ago that it could be possible, we are now within grasping distance of unlocking the power of the sun and providing families with secure, clean, unlimited energy. Britain is at the forefront of this global race to deliver fusion, and today’s record level of funding will provide investment and economic growth through our Plan for Change, delivering on net zero and creating the clean energy of the future.’
Meanwhile, the 25 grant-winners of the £51.9mln pot to cut emissions are based across England, Wales and Northern Ireland.
With businesses paying for around two thirds of the project costs to cut emissions, this funding will help businesses of all sizes expand and innovate, including supporting new jobs.
For example, Hanson Cement in North Wales will use its £5.6mln grant to support its multi-million-pound carbon capture and storage project – creating hundreds of jobs during construction and capturing 800,000t of CO2 emissions per year once operational – the equivalent of taking 320,000 cars off the road.
