Sumitomo and UK Sign £7.5bn Deal for Offshore Wind and Hydrogen Ventures
Key Ideas
- Sumitomo commits £7.5bn to UK for infrastructure and renewable energy projects, focusing on offshore wind and hydrogen ventures by 2035.
- The MoU aligns with the UK's industrial strategy and goal to boost long-term business investment in key growth sectors.
- Minister Gustafsson sees the agreement as a major vote of confidence in the UK economy, creating high-value jobs and aiding economic growth.
- The collaboration builds on previous UK-Japan agreements, reflecting international support for the UK's modern Industrial Strategy and Plan for Change.
Japan's Sumitomo has signed a memorandum of understanding with the UK, pledging £7.5bn for infrastructure and renewable energy projects by 2035, focusing on offshore wind and hydrogen. The agreement aligns with the UK's industrial strategy and aim to boost business investment in growth sectors. Minister Poppy Gustafsson views the deal as a positive endorsement of the UK economy, creating jobs and fostering economic growth. This collaboration builds on previous UK-Japan agreements, indicating support for the UK's Industrial Strategy and Plan for Change.
Topics
Investing
Renewable Energy
Clean Energy
Infrastructure
Investment
Partnership
Business
Economic Growth
UK-Japan Relations
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