UK and China ink clean energy deal
The UK and Chinese governments have signed an agreement to share knowledge and encourage investment in clean energy technologies in both countries.
The Clean Energy Partnership will enable UK companies share their expertise in low-carbon innovation and secure new business in the Chinese energy market, the largest in the world.
It is also hoped that the deal will encourage more investment in clean technologies, helping reduce costs to consumers in both countries.
The deal came as part of a state visit by Chinese president Xi Jinping in which a number of other collaboration agreements were also announced, including the first ever Chinese investment in the UK offshore wind market, and the establishment of joint offshore wind industry advisory groups.
Additionally, the China National Expert Committee on Climate Change and the UK’s Committee on Climate Change have agreed to establish a new process of joint work on recognising the importance of risk assessment for informing climate change policy.
Last week it was announced that China General Nuclear Power Group will take a 33.5% stake in the £18bn development costs for the Hinkley Point C project as part of a wider deal which paves the way for the Chinese nuclear firm to develop a second new nuclear plant at Sizewell and a nuclear plant of their own design in Essex in which it will take a two-thirds stake.
The agreement is set to reignite the UK’s floundering new nuclear ambitions after almost seven years of protracted negotiations and slipping timetables for the Hinkley project.
This story first appeared in edie’s sister title Utility Week.