UK Secures $1.74B in Clean Energy Pledges at G7 Summit

British Prime Minister Keir Starmer announced £1.3 billion ($1.74 billion) in investment commitments from French and Indian companies at the G7 summit on Tuesday. The pledges are earmarked for battery storage and clean power projects, the government said, though it did not name the specific firms involved or break down the total by country.

The round comes as Starmer's administration pushes its clean-energy agenda ahead of the next general election. The UK targets 50 GW of offshore wind capacity by 2030 and roughly 30 GW of battery storage over the same period. Installed battery capacity today sits around 4.5 GW. Closing that gap requires private capital on a scale that these pledges, if converted to actual projects, would help address.

French firms have focused historically on offshore wind supply chains and grid interconnection technology, while Indian companies have invested more in battery storage and solar-linked infrastructure. The government offered no new subsidy mechanisms or tax breaks alongside the announcement. The UK's Contracts for Difference regime and the capacity market remain the primary revenue support structures for new energy projects.