International engineering business Siemens has entered into a partnership agreement with UK100, a network of over ninety local government political leaders with a focus on climate and clean energy policy.
The partnership aims to work with the Department of Business, Energy and Industrial Strategy (BEIS) to assess private capital, government investment and local authority financing to develop clean energy projects at commercial scale.
£100 billion project pipeline
The goal is to bring forward a ‘pipeline’ of clean energy projects worth around a £100 billion in an effort to meet ‘net-zero’ and Paris agreement climate change emissions goals.
The partnership will work with local energy hubs being established by BEIS in the North West; Yorkshire, Humber & the North East; Greater South East; Midlands; and the South West; with the hubs linking with local enterprise partnerships and local authorities to help develop key clean energy projects to a stage where they are able to access finance.
Energy expert view
“Industry-public sector partnerships such as this, with a specific focus to bring forward investment in projects that will help with reducing our climate change impacts, should certainly help us progress more rapidly.
“The challenge is such that we must all work together, contributing resources and expertise, to move towards a much less climate change emission intensive society.” Alastair Fells MEI, Incorporated Eng, PG Dip Fuel Tech, BSc Hons