Telecommunications firm Siemans has announced plans to invest in the development of the UK's cheap energy sector.
The firm said it will spend £80 million on developing a wind turbine factory in the UK and has also signed up to the Friends of the Supergrid initiative, which aims to create a Europe-wide interconnected grid.
Matthew Knight, business development manager at Siemens Energy, said the supergrid would benefit the UK's renewable energy market and minimise potential problems with variable output.
"Connecting up Europe has lots of different benefits especially in terms of renewable energy, because renewable energy has a variable output so when the wind's not blowing the power doesn't work," he commented.
Mr Knight added that the project would also be beneficial in terms of swapping wind energy for hydro power and will make Europe more sustainable and sufficient on clean, cheap energy.
The Friends of the Supergrid initiative is composed of ten global companies and is designed to progress policy towards the construction of a pan-European offshore supergrid.
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