Britain to get £1.5bn for renewable energy projects

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The UK is preparing to receive almost £1.5 billion from the European Union to invest in clean energy projects, following an announcement by the EU Commission.

Of the £1.5 billion, over £126 million is to be set aside specifically for renewable energy projects, with £130 million to be used for energy efficiency and co-generation projects.

Some £251 million will help create "green collar jobs" and £87 million will go towards clean urban transport programmes.

Danuta Hubner, European Commissioner for regional policy, said the investment will be pivotal in "the EU's commitment to the fight against climate change".

He added: "Support for the green economy and the environment goes hand-in-hand with the Cohesion Policy's objective to deliver sustainable growth, jobs and competitiveness."

A joint energy consortium between Dong Energy, E.ON and Fred Olsen Renewables recently bid for the sole rights to exploit the renewable energy potential of the Crown Estate.

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