UK to invest £100m in renewable energy projects

The government of UK has announced an investment of £100m in domestic and foreign investment in non-domestic renewable energy projects to promote green economy, create green jobs, and also reduce green house gas emissions through these projects.

The government will provide the investment to two specialist fund managers who will distribute the funds to the various energy projects and also guide and support the renewable projects.

UK Deputy Prime Minister said the country is sixth largest market in low carbon goods and environmental services and government is helping the low carbon sector thrive.

"We seek nothing less than a clean, green, low carbon economy," Deputy Prime Minister added.

UK Energy and Climate Change State Secretary Edward Davey said, "The UK Government is taking the necessary steps to develop a secure, clean energy mix, and this is opening up massive, long-term investment opportunities."

The country has a set target of reducing the greenhouse gas emissions by at least 20% and 80% by 2020 and 2050 respectively.