Sir Keir Starmer has announced £1.3 billion of French and Indian investment in the UK during the G7 summit, with the money directed towards clean energy, battery storage and artificial intelligence projects. The package is expected to create more than 1,400 jobs in Manchester, Leeds and Birmingham, according to the Prime Minister’s Office.
The announcement comes as the Prime Minister works with G7 partners on energy market pressures, including shipping routes and tensions in the Middle East. The investment is being presented by the Government as part of its wider focus on growth, energy security and reducing exposure to volatile global energy prices.
French and Indian Firms Back UK Energy Projects
According to the Prime Minister’s Office, French private equity firm InfraVia will invest £1 billion in battery storage and flexible energy projects across the UK. The projects are intended to help keep electricity available when demand is high and support the grid when renewable energy output is low. The Government said this would contribute to a more stable energy system.
Atri Energy Transition, an India-based clean energy investor, will invest more than £300 million in large-scale battery storage and advanced manufacturing. The investment is expected to create more than 100 jobs. The Press Association reported that these energy investments form the largest part of the package announced at the G7 summit.
InfraVia’s chief executive and founder, Vincent Levita, said the launch of Supernova Power reflected the kind of investment needed as the UK moves towards “a more electrified, digital and low-carbon economy”. He said flexible generation and battery storage would be needed as digital infrastructure, electric vehicles and wider electrification place pressure on power systems.
AI Jobs Planned for Manchester, Leeds and Birmingham
Indian technology company Hexaware Technologies will invest £25 million to expand its UK operations, according to the press release. The Government said the investment will support around 1,200 jobs over the next three to five years.
Hexaware plans to expand its delivery centre in Birmingham and establish research and development centres in Manchester and Leeds. The work will focus on AI, digital services and quantum technologies.
Srikrishna Ramakarthikeyan, chief executive of Hexaware Technologies, said the company had worked with businesses in the UK for more than three decades. He said the investment would focus on young talent, published datasets and collaboration with government at different levels.
Starmer said the investments would create high-skilled jobs, support British innovation and strengthen the UK energy system. “The world is more dangerous than it has been for a generation, with conflict abroad washing up on our shores,” he said, according to the Prime Minister’s Office. The Government said the Prime Minister is using the G7 summit to work with partners on global energy pressures, supply chains and household costs.
