Energy secretary Grant Shapps is hoping to sustain the UK’s role as a major player in the net zero race as he sought to woo his American counterpart with plans for British and US companies to work together on joint ventures for clean energy projects in both countries.
He met with US energy secretary Jennifer Granholm yesterday to discuss their shared ambitions to speed up the energy sectors shift from fossil fuels to renewable energy sources.
The summit, dubbed the US-UK Strategic Energy Dialogue, comes as Downing Street looks to cultivate a shared energy strategy with key allies amid growing concerns the UK and Europe could lose out on new green energy projects to America.
Many energy companies and trade bodies have warned that UK and European firms are being tempted stateside by the recent US Inflation Reduction Act – a vast $738bn subsidy package which includes $391bn of committed spending on clean energy, the largest piece of federal legislation ever to address climate change.
The pair also reiterated their support for Ukraine in the defence of their country, a key driver of unprecedented global rises in energy prices.
Both secretaries argued that war has shown that there is no route to long-term prosperity for any country without moving towards cheaper and greener energy.
“The war has shown the UK, the US and countries the world over the need for ever greater energy independence, fuelled by moves away from fossil fuels and towards home grown sources like renewables and nuclear,” Shapps said. “Today I’m pledging to deliver that energy independence – backed by my ambition for lower wholesale electricity prices in the longer term.”
Commenting on potential deals, Granholm said the US government will look to “continue building on a long history of collaboration around our shared clean energy ambitions that will deliver home-grown security and greater independence.”