The UK government has secured a 拢7.5bn Japanese investment which it says will benefit key infrastructure and clean energy projects.
Minister for Investment Baroness Poppy Gustafsson signed the partnership agreement with Sumitomo Corporation鈥檚 Energy Transformation Group CEO Mr Hajime Mori, Europe CEO Mr Hiroyuki Koike and the Energy Transformation 老九品茶 Group in Tokyo.
Sumitomo Corporation aims to facilitate 拢7.5bn of investment into these offshore wind and hydrogen projects by 2035, backing the government鈥檚 aim to significantly increase long-term business investment into key growth sectors following the publication of its Modern Industrial Strategy and the 10-Year Infrastructure Strategy.
The Modern Industrial Strategy aims to make it quicker and easier for businesses to invest in the UK, providing investors the certainty and stability they need to make long-term decisions.聽
鈥淭he UK is a top investment destination for Japanese businesses, so I鈥檓 delighted to be in Tokyo to sign this new collaboration with Sumitomo Corporation,鈥� said Minister for Investment Baroness Poppy Gustafsson CBE.
鈥淲e鈥檙e serious鈥痑bout鈥痗lean energy as a key growth sector, and deals like this create high value jobs, encourage further鈥痠nvestment鈥痠nto our world-leading industry and help boost economic growth right across the UK.鈥�
Mori said: 鈥淲e have made active investments in several business sectors in the UK, including decarbonisation and clean energy. Under the UK鈥檚 new industrial strategy, clean energy is designated as a priority sector.聽
鈥淭hrough this agreement with the Office for Investment, we will continue to leverage our strengths to drive growth in the clean energy sector in the UK.鈥�