Labour Shadow Chancellor Rachel Reeves today committed to investing in green hydrogen and carbon capture and storage (CCS) in Grangemouth, Middlesbrough, Swansea and Hull if the party returns to power.
Addressing conference delegates in Liverpool she said, “For every pound of investment we put in, we will leverage three times as much private investment.” On her LinkedIn page, she said the party would also invest in six ‘clean steel’ plants and nine ‘renewable-ready’ ports.
Highlighting plans to ‘rewire Britain’ and transform the energy grid, she added, “Today, new developments are being forced to wait up to 15 years – until the late 2030s – to connect to the grid. £200bn worth of projects stuck in limbo.
“So today, working closely with Ed Miliband (Shadow Secretary of State for Energy Security and Net Zero), I can announce Labour’s plans to rewire Britain: securing the supply chain we need for lower bills. And to build faster and cheaper, opening up new grid construction to competitive tendering.
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