The National Wealth Fund, supported by the government, will invest in Cornish metals, which could be critical minerals needed for the production of solar panels.
Economic growth is the most important mission of this government, “without which we cannot meet climate goals,” said Rachel Reeves in a speech held on Wednesday (January 29).
The Chancellor of the Treasury has set out her vision of the economic growth of the UK and Netto Zero called the “Industrial Opportunities of the 21st century”.
Move to the Planning and infrastructure account, which the government will publish in the springSaid Reeves that “really shocked” is by how slowly the British planning system moves.
She shows that this point to the 500 MW solar-plus-on-storage Sunnica Energy Farm, one of the three National Solar Significant Infrastructure Projects (NSIPS) (NSIPS) (NSIPS) (NSIPS), referred to it in July 2024 Approved, even though the government was aware of the proposals (Sunnica) since 2021.
Efforts to speed up the planning system have the government a Change in the rule of stopping “cynical” legal challenges. This followed Prime Minister Keir Starmer’s promise to streamline the approval process of 150 large infrastructure projects As a repeat of the government’s dedication to clean power.
The main announcement was that the National Wealth Fund (NWF) of the Government will invest £ 65 million in EV -load platform Connected CURB and £ 28 million stock investments in Cornish metals that will look at critical minerals used to produce solar panels, wind , wind. Turbines and electric vehicles.
Reeves said the NWF was established because the state plays a “crucial role” in securing the necessary investment For the growth of the renewable energy industry. The investment investment for Cornish metals will help the Tin -Mijnbouwbedrijf to restore activities in the southwest. It was closed in 1998 and its reopening is hoped to create around 300 jobs.
NWF -CEO John Flint said about the investment: “Critical minerals are not only an important engine from the transition from the UK to Net Zero, but also of the growth mission of the UK, and offers opportunities to anchor important supply chains in the UK. “
More information about the growth speech held by Rachel Reeves is available on our sister site, Power ±Where This article was originally published.
