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The Low Carbon Economy Ltd

12 Feb 2010 03:02:04

£400m funding boost for renewables under Lib Dems



£400m funding boost for renewables under Lib Dems
Port facilities in the UK could get a £400 million update if the Liberal Democrats come into power this year, the party claimed this week.

In the wake of developments in the wind renewables sector this year, the party believes that a huge cash injection is necessary to make the UK a market leader in the industry.

The funding forms a central plank of their economic stimulus and job creation package.

Nick Clegg, the party leader, highlighted in his visit to a former shipyard in Newcastle, that turbine manufacturers were unable to invest in UK ports because of inadequate facilities.

According to the party, the funding would also create 57,000 jobs in port development and jobs in manufacturing, construction and supply chain of offshore wind in areas affected by the closure of older industries.

In addition to this, universities that specialise in engineering research would also receive £100 million to go towards training and testing facilities through the proposed new body the Renewables and Energy Efficiency Delivery Authority.

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