UK announces £2 billion Energy Wealth Fund for the clean-energy transition
The UK government has announced an Energy Wealth Fund with an initial £2 billion allocation to invest in renewable and low-carbon energy infrastructure. Established within the National Wealth Fund, it will receive further North Sea oil and gas tax revenues over time. The announcement accompanied the Jackdaw gas-field consent decision and highlighted clean-energy supply chains, including the Nigg cable factory and Berwick Bank B offshore wind project. The fund is intended to support future investment; individual project allocations were not announced.