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British renewables investment hits £2.5 billion
 Britain's Department of Energy and Climate Change has been boasting that renewable energy has already brought £2.5 billion of investment to the UK economy.
As part of an ongoing campaign to convince the country about the value of renewables DECC Secretary of State Chris Huhne has published new figures which show how much money has already been invested in the renewable energy economy in the UK.
According to new research by the DECC so far this financial year, various companies have made plans for up to £2.5 bn worth of investment in UK renewable energy projects, with the potential to create up to 12,000 new jobs, says the government department.
“Renewable energy is not just helping us increase our energy security and reduce our emissions. It is supporting jobs and growth across the country, and giving traditional industrial heartlands the opportunity to thrive again,” Huhne has declared.
Britain aims to source up to 15% of its energy needs by 2020 under targets set by the DECC. Renewable energy consumption in the UK has risen from 42.6TWh in 2008 to 54TWh in 2010, says the DECC, which represents 3.3% of total energy consumption.
Also the DECC says wind generation has increased by 46% from 7 TWh in 2008 to 10.2 TWh in 2010. During 2010 the UK achieved 5GW of offshore and onshore wind power generating capacity; and there has been a threefold increase in the use of biofuels for transport, says the government, with the use of biofuels rising from 1% of total road transport fuel supply in 2007/8 to 3.33% during 2010.
Huhne says these new statistics support his view that renewable energy investment is creating jobs in the UK.
“Our renewable target is less demanding than other EU member states, but the effect is bringing real jobs and investment,” Huhne states.
A map of renewables investment around the UK shows 2422 jobs and a £315 million investment in Scotland; 1413 jobs created and £128 m invested in the UK North East, and £81 m and 957 jobs created in the UK North West. In the county of Yorkshire, £469 m has been spent and 2501 jobs created
Another £155 m has been invested and 580 jobs created in Northern Ireland. In Wales the renewables investment figure is £429.7 m with 849 jobs.
In the East Midlands the figures are £116 m and 80 jobs, and in the Eastern region £101 m and 170 jobs. In the London area £7 m has been invested in renewables, and in the South East as a whole the figures are £261 m of investment and 2081 jobs, while in the UK South West, £356 m has been invested and 22 jobs created, according to the DECC survey.
Those South West jobs include the decision by LIC Energy UK, a Danish offshore and marine energy engineering group, to locate its UK headquarters in Bristol.
See the map here:
http://www.decc.gov.uk/media/viewfile.ashx?filetype=4&filepath=11/meeting-energy-demand/renewable-energy/3994-renewables-investment-and-jobs-announced-1-april-t.pdf&minwidth=trueAdvertisement
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Aker group grows value Norwegian industrial group Aker ASA says it value rose 16% in the first quarter to NOK 22.5 billion (US $3.74 bn) as its investments – mainly in oil and gas operations rose in value.
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