Japan's Marubeni to Invest £10bn in UK clean energy
SUMMARY
The company will focus on offshore wind and green hydrogen businesses. [Image: Marubeni]
By Shardul SharmaJapanese trading company Marubeni Corporation has signed a memorandum of understanding (MOU) with the UK government to invest £10bn ($12.2bn) in clean energy projects in the UK, including offshore wind and green hydrogen businesses, it said on October 12.
The UK government has committed to achieving net zero greenhouse gas (GHG) emissions by 2050 and is also aiming to deploy offshore wind farms with a total capacity of up to 50 GW by 2030, which will include up to 5 GW of floating offshore wind farms and 10 GW of production capacity for low carbon hydrogen.
Marubeni said it will leverage its collaboration with the UK government and local governments to promote clean energy projects in the UK and contribute to the UK's goal of achieving net zero GHG emissions, while also feeding back the knowledge and experience gained through its UK operations to Japan.
In November 2021, the Japanese company partnered with Scottish Enterprise to decarbonise Scotland via floating offshore wind and green hydrogen businesses.
