Govt announces major green investment

Date: 3rd June 2011

Small businesses across the UK could be among those encouraged by new investment into the country's renewable energy sector.

The government has announced two major new investments, one of which will see a new technology and innovation centre formed.

Business secretary Vince Cable has confirmed that a competition will take place to create the centre, which will focus on offshore wind, wave and tidal power technologies.

"In creating an Offshore Renewable Energy technology and innovation centre we are taking the next step to transforming the UK into a low carbon economy. There is a clear opportunity for the government to support the UK’s offshore industry and this centre will be of great benefit to the sector and the economy.”

"The government is committed to greening the economy – and despite the difficult financial challenges we face, we have already achieved a great amount, such as a vision for a Green Investment Bank and a commitment to world leading carbon reduction."

Posted by James Curtis