UK sees GBP 2.5bn planned renewable energy investment year to-date
Dec 29, 2011 - Since the start of the current fiscal year, businesses have unveiled plans to invest nearly GBP 2.5 billion (USD 3.86bn/EUR 2.99bn) in UK renewable energy projects, according to a research by the Department of Energy and Climate Change (DECC).
DECC said that investment had the potential to generate nearly 12,000 jobs nation-wide.
The figures were announced as the UK published a report to the European Commission on the progress to meeting its target of renewable sources accounting for 15% of all energy by 2020.
According to the report, renewable energy consumption in the UK rose by 27% in 2010 compared with the 2008 level, to 54 TWh, which represented 3.3% of energy used. Wind generation increased by 46% to 10.2 TWh last year from 7 TWh in 2008. The use of biofuels in transport grew to 3.33% of the total road transport fuel supply in 2010 from 1% in 2007/2008.