The United Kingdom and Japan will sign an investment agreement worth $24.1 billion to develop clean energy.
The United Kingdom and Japan plan to sign an investment agreement worth £18 billion, approximately $24.1 billion, to develop clean energy, infrastructure, and financial services sectors. The official announcement will take place during talks between UK Prime Minister Keir Starmer and Japanese Prime Minister Sanae Takaichi at Downing Street ahead of the G7 summit in France.
This initiative includes significant Japanese investments of up to £9 billion in the construction of floating offshore wind farms in the UK. Projects with a total capacity of 5.9 GW are expected to supply electricity to approximately 8 million households. Business community representatives from both countries will also participate in the meetings, highlighting the importance and scale of the planned agreements.
Investments in renewable energy underscore the efforts of the UK and Japan to achieve climate goals and promote a “green” transition. Additionally, the agreements will contribute to the creation of new jobs in the offshore wind energy, infrastructure, and financial services sectors. The agreement is part of broader efforts aimed at expanding cooperation in the energy sector between the two countries.
Previously, there were reports of joint research by British and Japanese scientists to develop a new type of high-temperature gas reactor for nuclear power plants, which is to be operational by 2030.
| Project | Investment (£) | Capacity (GW) | Households |
|---|---|---|---|
| Floating Offshore Wind Farms | up to 9 billion | 5.9 | 8 million |
