UK government announce new bonus for renewable energy firms to spur economic growth

The Department for Energy Security and Net Zero has launched a new industry bonus for offshore wind developers who drive investment in the UK’s most deprived areas.

The Clean Industry Bonus is open to applications from renewable energy firms who meet the condition that they prioritise their own investment in regions that need it most, supporting highly skilled jobs in industrial towns and cities.

It is also a reward for developers who build more sustainable low carbon factories or support net-zero supply chains.

The UK government hopes the impact of this incentive will be two-fold – tackling the climate crisis and addressing the challenges in the renewable technologies supply chain, exacerbated by the Russian invasion of Ukraine. As per a recent press release from the Department, the Bonus is part of longer-term plans to make the UK a clean energy superpower, with secure, homegrown energy that Britain controls.

Read the Department’s press release via the government website here.