🇬🇧 Andy Burnham
Burnham hails £12bn wind farm investment as he prepares for Cop31 climate talks
What happened
Prime Minister Andy Burnham has welcomed a £12 billion investment in wind farms, specifically the Vanguard West and Vanguard East offshore wind farms off the Norfolk coast. The investment comes from energy company RWE and investment firm KKR, with £1 billion from the state-owned National Wealth Fund. The wind farms are set to be delivering power by 2030, with construction beginning early next year. The investment is said to bring jobs and opportunities to coastal communities.
Why it matters
The investment is significant because it represents a vote of confidence in the UK's renewable energy sector and is expected to bring down energy bills. The investment is also seen as a way for public investment to work alongside private capital to build homegrown energy.
Key facts
- £12 billion investment in wind farms
- £1 billion from the state-owned National Wealth Fund
- Wind farms to be delivering power by 2030
- Construction to begin early next year
Topics
Publisher evidence used
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