UK Secures £7.5 Billion Japanese Investment in Offshore Wind, Hydrogen

The UK government has signed a significant investment deal with Japan's Sumitomo Corporation, unlocking approximately £7.5 billion (around $10 billion) to fund clean energy projects including offshore wind and hydrogen infrastructure over the next decade. UK Minister for Investment, Poppy Gustafsson, emphasized that this partnership is a major vote of confidence in the UK economy and supports the government's Modern Industrial Strategy and Plan for Change aimed at boosting economic growth and creating high-value jobs. Sumitomo, a long-term investor in the UK energy sector, will help tackle supply chain challenges and raise ambitions in power grid and wind farm investments. This deal aligns with the UK’s goal to become a clean energy superpower and reflects strong international backing despite global trade uncertainties. The investment is part of broader efforts by the Labour government, led by Prime Minister Keir Starmer, to prioritize private sector involvement in achieving net-zero emissions. Additionally, the collaboration reinforces the UK's position as a top investment destination globally, as highlighted by recent surveys of finance leaders.