RenewableUK welcomes key announcements on clean energy in Chancellor’s Spending Review

11 June 2025 - RenewableUK press release

Commenting on the Spending Review announced today by the Chancellor Rachel Reeves, RenewableUK’s Executive Director for Policy and Engagement Ana Musat said:

“We welcome the Chancellor’s confirmation that Great British Energy will support the development of the UK’s offshore wind supply chain with £300 million of grant funding to attract private investment. This will help secure manufacturing facilities in coastal communities around the country, both for fixed-bottom offshore wind farms in which the UK has led the world, and innovative technologies such as floating offshore wind. The development of new port facilities will be crucial to enable this, so today’s confirmation of £80 million of investment in Port Talbot is particularly timely.

“The Chancellor’s announcement that the Inverness and Cromarty Firth Green Freeport has been fully approved by the UK and Scottish Governments, with a focus on offshore wind, sends a clear signal that the energy transition is offering new opportunities for workers in parts of the country who have transferable skills from other areas within the energy sector. This is further demonstrated by her confirmation that the North East Scotland Investment Zone will be based in Aberdeenshire, focussing on floating wind and green hydrogen. We know green hydrogen provides vital flexibility to our energy system by enabling us to store clean power over long periods, to be used whenever it’s needed.

“To realise the potential of these investments, which can deliver tens of thousands of new jobs and billions in private investment, it’s absolutely essential that the next clean energy auction for new projects, Allocation Round 7, should progress as soon as possible and that the auction regime should be confirmed without delay. The Government should also confirm that it will not pursue zonal pricing as part of its Review of Electricity Market Arrangements. All these measures are essential to mobilise the industry investment which could unlock over 8 gigawatts of offshore wind and bring us closer to the Government’s target of clean power by 2030”.

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Notes

For further information, contact

Robert Norris, Head of Communications
07969 229 913 | Robert.Norris@RenewableUK.com

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