Gren confirms plans to invest up to £1 billion to deliver affordable green energy in the UK
Leading green energy company, Gren, has confirmed its plans to invest up to £1 billion in district heating and local energy systems in the UK.
Partners Group, the global private equity firm which acquired Gren in 2021, made the commitment at a Global Investment Summit hosted by the Prime Minister Rishi Sunak at Hampton Court Palace today, joining more than 200 top CEOs and investors who are collectively investing more than £29 billion in the UK economy.
Gren has also recently acquired a network of waste and biomass assets, which play a key role in baseload energy production and reducing waste to landfill. The company plans to invest up to £1 billion in district heating and local energy systems that will deliver affordable green energy to over 200,000 homes and thousands of businesses in the UK, with sites among others in Wick, Sheffield and Nottingham.
Mike Reynolds, CEO of Gren Energy Ltd, said:
“Gren has already invested over £100 million in the UK and today we confirm our commitment to make significant further investment to acquire, scale and develop low carbon infrastructure. Gren’s dynamic and agile approach is exactly what is needed to unlock the huge potential in this market and stimulate rapid acceleration in decentralised energy and district heating, creating thousands of new jobs and driving growth across the country.”
The Prime Minister Rishi Sunak said:
“Today’s investments, worth more than £29 billion, will create thousands of new jobs and are a huge vote of confidence in the future of the UK economy. Global CEOs are right to back Britain - we are making this the best place in the world to invest and do business.
“Attracting global investment is at the heart of my plan for growing the economy. With new funding pouring into key industries like clean energy, life sciences and advanced technology, inward investment is creating high-quality new jobs and driving growth right across the country.”
Sarah Richardson, Senior Advisor, Communications, [email protected]