The UK has secured more than £1.3 billion in new international investment for battery storage, energy infrastructure and technology projects, with major commitments from companies based in France and India.
French private equity firm InfraVia will invest £1 billion in battery storage and flexible energy infrastructure projects, while India-based Atri Energy Transition will commit more than £300 million to large-scale battery storage and advanced manufacturing facilities.
Indian technology company Hexaware Technologies will also invest £25 million to expand its UK operations.
The government said the projects would support job creation and help strengthen the country’s energy infrastructure as demand for electricity continues to grow.
Growing role for battery storage
Battery storage is playing an increasingly important role in the UK’s energy system. The technology allows excess electricity generated by renewable sources, such as wind and solar farms, to be stored and used when demand rises or generation falls.
The investment comes as the UK continues efforts to reduce its reliance on fossil fuels and expand clean energy capacity. The government has set a target of reaching net-zero greenhouse gas emissions by 2050 and has identified energy security as a key priority.
Supporting the clean energy transition
Ministers say attracting international investment into renewable energy, energy storage and advanced manufacturing will help support economic growth while accelerating the transition to cleaner sources of power.
The announcement was made during the G7 summit, where leaders are discussing economic growth, energy security and international cooperation amid ongoing global challenges.
