Siemens has signed a partnership agreement with UK100, a network of 94 political leaders from across the UK to work with the Department of Business, Energy and Industrial Strategy (BEIS) to bring together financing from local authorities, private capital and government to try to unlock a pipeline of clean energy projects worth more than £100 billion as part of the UK's drive to meet net-zero emissions and the Paris Climate goals.
This partnership builds on the development of five Local Energy Hubs which are being established by BEIS. Located in the North West; Yorkshire, Humber & the North East; Greater South East; Midlands; and the South West, these Hubs provide practical support and expertise to LEPs and local authorities to help them undertake the development for priority energy projects, up to the point where they are able to secure finance.
A survey of local authorities by UK100 and an extrapolation of local energy transition strategies developed by Siemens have shown that there is a pipeline of over £100 billion clean energy projects which could be rolled out with support from both public and private sector participants. However, only a small proportion of these are at the point of commercialisation, with the remaining at either conceptual or feasibility stages.
Developing projects at scale can be hampered by convoluted and confusing procurement processes, as well as bureaucracy and slow decision-making. UK100’s survey showed that both investors and local councils are calling for more support from central government by providing additional development capital, a single gateway to apply for support as well as support in developing a business case for clean energy projects.
Polly Billington, Director of UK100, a network of local leaders committed to 100% clean energy by 2050, said:
“Siemens commitment to this partnership is a sign that the private sector is taking local energy schemes seriously and can help local government to play its part in meeting our ambition of net-zero emissions.”
Last reviewed 8 October 2019