UK, Japan Plan to Sign £18 Billion Clean Energy Investment Deal

The UK and Japan are expected to agree on an £18 billion ($24.1 billion) deal that they predict will create new jobs in the offshore wind, infrastructure and financial services sectors, UK Prime Minister Keir Starmer’s office said in a statement Saturday.

The deal would include up to £9 billion in Japanese investment to develop 5.9 gigawatts of floating offshore wind projects in the UK and ultimately generate enough clean electricity to power 8 million homes.

Japanese Prime Minister Sanae Takaichi will meet Starmer at Downing Street Sunday, along with business leaders from both nations, ahead of the G7 meeting in France.

“As G7 economies and close security partners, we are working together with Japan on some of the most innovative technology in the world, harnessing the best of British and Japanese research and industry to deliver growth and security to every corner of the United Kingdom,” Starmer said.