Sumitomo Corporation and UK Government Partner for Clean Energy Investments
Key Ideas
  • Sumitomo Corporation and the UK Government signed an MoU for a long-term partnership to accelerate investments in clean energy in the UK.
  • The agreement outlines a commitment of up to £7.5 billion by 2035 for UK-based projects, including offshore wind power, carbon capture, hydrogen production, and more.
  • The formal signing ceremony took place at the British Embassy in Tokyo, solidifying the commitment to strengthening the relationship between the two entities.
  • Both parties expressed enthusiasm for the collaboration, highlighting the potential for growth in the UK's clean energy sector and ongoing economic development.
Japan's Sumitomo Corporation has signed a comprehensive Memorandum of Understanding with the UK Government’s Department for Business and Trade’s Office for Investment to accelerate investments in the UK’s clean energy and infrastructure sectors. The MoU commits Sumitomo Corporation and its partners to invest up to £7.5 billion in UK-based projects by 2035, including initiatives in offshore wind power, carbon capture and storage, hydrogen production, and railway operations. A formal signing ceremony at the British Embassy in Tokyo marked the beginning of this long-term partnership. Senior leaders from Sumitomo Corporation and representatives from the UK Government attended the event. The agreement reflects the UK's focus on clean energy as a priority sector and Sumitomo's commitment to leveraging its strengths for growth in the UK. The partnership includes projects like offshore wind farms, carbon capture and hydrogen development, rail infrastructure management, fusion energy collaboration, and venture capital expansion. Both parties expressed positivity towards the collaboration, emphasizing the potential benefits for the UK economy and society. The UK Government officials appreciated the investment from Sumitomo Corporation, highlighting the strength of UK-Japan cooperation in clean energy infrastructure. The partnership signifies a step forward in the enduring relationship between the two countries, with a focus on decarbonisation, innovation, and economic collaboration.
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