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PM to unveil plan to power UK with wind by 2030

Tue, 06th Oct 2020 08:29

(Sharecast News) - UK Prime Minister Boris Johnson will unveil a plan to power all homes in the country with offshore wind power by 2030 on Tuesday.

In a speech to the virtual Conservative party conference, he will outline how the government plans to invest in clean energy in the future and generate "hundreds of thousands, if not millions of jobs" over the next decade, the Guardian reported.

He will also pledge to make the coronavirus pandemic a catalyst for green investments and a shift towards cleaner energy.

Johnson said the UK would "become the world leader in low-cost clean power generation - cheaper than coal and gas", comparing the UK's resources in offshore wind to Saudi Arabia's oil wealth.

"We believe that in 10 years' time offshore wind will be powering every home in the country, with our target rising from 30 gigawatts to 40 gigawatts," he will say. "Your kettle, your washing machine, your cooker, your heating, your plug-in electric vehicle - the whole lot of them will get their juice cleanly and without guilt from the breezes that blow around these islands."

Number 10 said the pledge was the first step in a 10-point "Build Back Greener" plan, which the prime minister would set out later in the year.

The Prime Minister will announce the government's intention to invest £160m in manufacturing the next generation of turbines. The initial investment in construction will generate up to 2,000 jobs and support up to 60,000 jobs directly and indirectly in the next decade.

"Far out in the deepest waters we will harvest the gusts, and by upgrading infrastructure in places like Teesside and Humber and Scotland and Wales we will increase an offshore wind capacity that is already the biggest in the world," Johnson is expected to say.

"As Saudi Arabia is to oil, the UK is to wind - a place of almost limitless resource, but in the case of wind without the carbon emissions and without the damage to the environment.

"I remember how some people used to sneer at wind power 20 years ago and say that it wouldn't pull the skin off a rice pudding. It was offshore wind that puffed the sails of Drake and Raleigh and Nelson, and propelled this country to commercial greatness."

The UK is still aiming to meet targets of net zero carbon emissions by 2050.
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13 Dec 2023 14:34

Gresham House GBP470 million takeover by Searchlight backed by court

(Alliance News) - Gresham House PLC on Wednesday said its takeover by Searchlight Capital Partners LP received court approval.

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23 Nov 2023 18:30

IN BRIEF: Gresham House's takeover gets Irish banking approval

Gresham House PLC - investor in utility-scale battery energy storage systems - Receives approval from the Central Bank of Ireland in respect of the change in control of Gresham House Asset Management Ireland Ltd upon the acquisition by Searchlight Capital Partners LP. Means all regulatory conditions surrounding the bid have been satisfied or waived. Acquisition remains subject to the Court's sanction of the scheme at the court hearing, which is expected to take place on December 13. Scheme is expected to become effective on December 19.

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23 Nov 2023 11:50

Central Bank of Ireland gives nod to Gresham House takeover

(Sharecast News) - Gresham House and Bidco announced a significant development in their ongoing acquisition process on Thursday, having received approval from the Central Bank of Ireland (CBI) for the proposed change in control related to the acquisition.

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14 Nov 2023 12:50

IN BRIEF: Baronsmead venture trusts to raise GBP15 million each

Baronsmead Venture Trust PLC and Baronsmead Second Venture Trust PLC - UK-focused venture capital trusts managed by Gresham House PLC - Plan to raise GBP15 million each in share subscription offer, with an over-allotment facility for a up to a further GBP10 million each. The share offers are expected to be launched at the beginning of December.

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30 Oct 2023 09:40

LONDON BROKER RATINGS: Jefferies cuts NatWest to underperform from buy

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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10 Oct 2023 12:30

IN BRIEF: Gresham House takeover by Searchlight gets UK FCA approval

Gresham House PLC - London-based alternative asset manager - Takeover by US-based private equity and debt investor Searchlight Capital Partners LP gets approval from UK Financial Conduct Authority. Gresham House shareholders voted for the deal at the end of August, so only a few regulatory conditions remain. The acquisition is expected to be completed by early 2024. The deal announced back in July will see Gresham House become a portfolio company alongside other investments of funds advised by Searchlight. The funds are paying 1,105 pence per share, valuing Gresham House at GBP440.6 million on an enterprise value basis.

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10 Oct 2023 11:55

Gresham House gets FCA approval for acquisition by Searchlight funds

(Sharecast News) - Gresham House announced a critical regulatory approval for its planned acquisition by an entity consisting of funds directed by Searchlight Capital Partners, dubbed 'Bidco', on Tuesday.

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14 Sep 2023 12:23

Gresham House touts long-term ambitions as interim profit surges

(Alliance News) - Gresham House PLC on Thursday reported a higher interim profit, net asset value and more assets under management, as it hailed its long-term plan.

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14 Sep 2023 12:20

Gresham House posts slight uptick in assets under management

(Sharecast News) - Alternative asset manager Gresham House reported 5% growth in assets under management in its first half on Thursday, to £8.3bn.

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30 Aug 2023 18:46

Gresham House shareholders back GBP470 million takeover by Searchlight

(Alliance News) - Gresham House PLC on Wednesday said that its shareholders approved the planned takeover by US-based private equity and debt investor Searchlight Capital Partners LP.

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23 Aug 2023 15:42

UK shareholder meetings calendar - next 7 days

Thursday 24 August 
Ananda Developments PLCAGM
Concurrent Technologies PLCAGM
CyanConnode Holdings PLCAGM
Nuformix PLCAGM
Oryx International Growth Fund LtdAGM
ThomasLloyd Energy Impact Trust PLCAGM
ThomasLloyd Energy Impact Trust PLCGM re market purchases of its own ordinary shares
Friday 25 August 
Honye Financial Services LtdAGM
Iconic Labs PLCAGM
Ormonde Mining PLCAGM
Ormonde Mining PLCEGM re AIM delisting and proposed investment in TRU Precious Metals Corp
Monday 28 August 
no events scheduled 
Tuesday 29 August 
Axiom European Financial Debt Fund LtdEGM re liquidation of the company
Livermore Investments Group LtdAGM
TomCo Energy PLCAGM
Wednesday 30 August 
Esken LtdAGM
Gfinity PLCGM re share capital reorganisation
Global Connectivity PLCAGM
Gresham House PLCGM re takeover
Kinovo PLCAGM
Lindsell Train Investment Trust PLCAGM
Vistry Group PLCGM re directors' remuneration policy
WANdisco PLCAGM
  
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26 Jul 2023 17:02

TRADING UPDATES: Marston's optimistic; Nichols sales get Vimto boost

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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17 Jul 2023 17:44

UPDATE: Gresham House backs GBP470 million takeover from Searchlight

(Alliance News) - Gresham House Energy Storage Fund PLC on Monday noted that Gresham House PLC has agreed to be taken over by Searchlight Capital Partners LP.

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17 Jul 2023 12:02

LONDON MARKET MIDDAY: Uninspiring China data hurts miners and luxury

(Alliance News) - China's economy expanded at an unimpressive pace, bringing growth fears for the world's second-largest economy to the fore again and ensuring equities kicked off the new week on the back foot.

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17 Jul 2023 11:01

Gresham House to be taken over by Searchlight Capital in £470m deal

(Sharecast News) - Asset manager Gresham House has agreed to be taken over by US investment firm Searchlight Capital in a £470m deal.

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