The National Wealth Fund (NWF) plans to invest over £100bn in the UK economy, creating 200,000 jobs and cutting greenhouse gas emissions by 500 million tonnes by 2050. The strategy focuses on clean energy, place-based investment, and key sectors like defence and green steel.

NWF will prioritize investment in ten sectors with catalytic potential, including battery manufacturing, hydrogen, and steel. Over the next five years, £5.8bn will be allocated, with an additional £800m committed to Scottish Power for upgrading the UK’s power grid. The fund aims to attract private capital and accelerate high-impact projects.

NWF’s CEO Oliver Holbourn expressed excitement about driving economic growth, clean energy transition, and community transformation. The fund has already committed one-third of its capital, mobilizing £17bn in private investment and supporting 70,000 jobs. The strategy aims to deploy the remaining capital in five years to meet government goals and deliver returns for taxpayers.

Read more at Yahoo Finance: NWF unveils $137bn plan to drive UK clean energy investment