Japan’s Marubeni eyes £10 billion UK clean energy investment

The UK government has signed a deal with Marubeni to support the Japanese conglomerate and its partners’ plans to spend about £10 billion (€11.6 billion) in UK clean energy projects in the next decade.

Marubeni and the UK government’s Department for Business and Trade signed a memorandum of understanding yesterday (11 October) for “comprehensive cooperation in clean energy projects, including offshore wind and green hydrogen” in the UK.

The Japanese company is due to spend about £1 billion of its own money on the projects, according to the Reuters news wire.

Marubeni had previously signed a similar deal with Scotland’s national economic development agency for collaboration on floating offshore wind and green hydrogen.

It is developing a gigawatt-scale floating offshore wind project off the east coast of Scotland with SSE Renewables and Copenhagen Infrastructure Partners.