Sir Keir Starmer has announced \u00a31.3 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\u2019s Office.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
According to the Prime Minister\u2019s Office<\/a>, French private equity firm InfraVia will invest \u00a31 billion in battery storage and flexible energy projects across the UK. The projects are intended to help keep electricity <\/strong>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.<\/p>\n\n\n\n Atri Energy Transition<\/strong>, an India-based clean energy investor, will invest more than \u00a3300 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 <\/a>investments form the largest part of the package announced at the G7 summit.<\/p>\n\n\n\n InfraVia\u2019s chief executive and founder, Vincent Levita<\/a>, said the launch of Supernova Power reflected the kind of investment needed as the UK moves towards \u201ca more electrified, digital and low-carbon economy<\/em>\u201d. He said flexible generation and battery storage would be needed as digital infrastructure, electric vehicles and wider electrification place pressure on power systems.<\/p>\n\n\n\n