British Security Secretary, Grant Shapps, and French Energy Minister, Agnes Pannier Runacher, have signed a collaboration agreement to promote renewable energy sources’ deployment.
The energy partnership between the UK and France aims to accelerate the transition away from fossil fuels and strengthen the region’s energy security, within a particularly complex supply landscape.
Starting with nuclear energy
The energy partnership between the UK and France builds on decades of collaboration on nuclear energy and launches further cooperation to scale up civil nuclear energy capabilities. The agreement will provide safe, green, and affordable energy for both countries, thus helping to reduce consumers’ energy bills.
The two countries already have three energy interconnectors, with a capacity of 4 GW. The energy partnership between the UK and France intends to boost electricity interconnection by up to two-thirds, ensuring greater security and energy independence.
An independent approach must also stimulate the other G7 leaders to reduce their dependence on Russian civil nuclear power and related assets.
Source diversification is not the only goal of the energy partnership between the UK and France. Indeed, it will translate into a series of economic benefits and new job opportunities.
The UK is preparing to become a global leader in renewable energy sources such as hydrogen. An industry that could attract around £9 billion in investment and create over 12,000 jobs by 2030. The partnership signed on March 13 is in line with this ambition, as France plans to incorporate this resource into its energy system.
Lastly, the UK and France will work together to advance carbon capture and storage techniques. The UK North Sea has the potential to store 78 billion tonnes of CO2 on the UK continental shelf. That reality could be transformed into a multibillion-pound industry, supporting up to 50,000 jobs in 2030.
Sources: gov.uk, energydigital.com, innovationnewsnetwork.com