UK Government announces over £500 million new investment in green technologies
Plans for a cleaner and healthier Britain stepped up a gear as Ministers announced more than half a billion pounds of investment in green technologies.
The Treasury has launched a £400 million ($492 million) fund to bolster Britain's electric vehicle charging infrastructure, with the first £70 million ($86.1 million) allocated for 3000 charge points - more than doubling the number across the UK to 5000.
Rapid charge points can recharge a family car in as little as 20 minutes, compared to existing technology which can take 40 minutes- making the reality of driving electric vehicles easier and more accessible for people across the country. The UK already has one of the largest electric vehicle charging networks in Europe, and this investment will help make that the fastest by installing state-of-the-art technology.
A review is currently underway to explore the provision of charge points across major road networks, meaning drivers could charge their car whilst stopping for a coffee at a service station. This investment complements £1.5 billion ($1.85 billion) support to boost the uptake of electric vehicles and make cleaner vehicles more accessible to everyone. This is part of the Government's ambition to end the sale of petrol and diesel vehicles by 2040.
Exchequer Secretary Simon Clarke said: “We are driving ahead with plans to make travel greener while backing British innovation and technology. I am delighted to announce this funding today that will more than double the number of rapid charge points for electric vehicles on our roads. Britain already boasts one of the biggest networks of charging infrastructure in Europe and soon we will have the fastest thanks to this investment.”
Transport Secretary Grant Shapps said: “It's fantastic there is already a rapid chargepoint at almost every motorway service station, and now more charging stations than petrol stations. But I want to see thousands more chargepoints installed across the UK. This fund will help drum up further investment in charging infrastructure from the private sector, so charging an electric car becomes as easy as plugging in a smart phone.”
The Charging Infrastructure Investment Fund will be managed and invested on a commercial basis by private sector partners, and government will invest up to £200 million ($246 million) to be matched by private investors. The fund is leveraging private investment to support the rollout of charge points for electric vehicles across the UK. The initial £70 million ($86,1 million) investment has been provided by government and Masdar.
UK Government announces over £500 million new investment in green technologies
Modified on Thursday 12th September 2019
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UK Government announces over £500 million new investment in green technologies