The UK Chancellor, Alistair Darling, announced the GBP2bilion Green Investment Bank, which will focus on investing in green transport and sustainable energy, in particular offshore wind power with "GBP60m to develop ports looking to host manufacturers of offshore wind turbines."
Speaking to the European Future Energy Forum, Energy and Climate Change Secretary Ed Miliband said "The green investment bank, new support for wind turbine manufacturing sites and the first findings of our work to reform the energy market are all critical."
Conservative Shadow Energy and Climate Change Minister Greg Clark told EFEF: "The announcement in the Budget of a Green Investment Bank is welcome – it is an idea that the Conservatives first proposed last year"
Liberal Democrat Shadow Energy and Climate Change Secretary, Simon Hughes told EFEF: "We’re concerned that both Labour and the Tories want the bank to fund nuclear power, which is far from a clean solution to our energy crisis," said Mr. Hughes.
With agreement on the scale of low carbon energy and transportation infrastructure needed in the UK, renewable energy looks set to grow significantly. What remains to be seen is who will be in Government.
The European Future Energy Forum looks set to be the 1st showcase of the UK Government post-election of their renewable energy plans and policy. Done in association with UKTI, the forum will be the UK’s largest gathering of international renewable energy manufacturers, investors and service providers.
The Forum, founded by the Masdar Initiative, Abu Dhabi Future Energy Company, was launched after the success of the mother event, the World Future Energy Summit in Abu Dhabi.
"The Forum will be the place for the generation of solutions", said Dr Sultan Al Jaber, CEO, Masdar. ‘Our vision is of using these Forums as a method of exchanging knowledge and doing business internationally."