By Claire West

Finnish Cleantech companies are meeting in London this week to find out more about working with UK firms and setting up in the UK.

Business & Enterprise Mark Prisk is to speak at the event on Wednesday with his Finnish counterpart Paavo Väyrynen before discussing how both governments can support investment in each other’s renewable sectors.

The meeting will be followed by a networking event for companies at the Finnish ambassador’s residence.

Mr Prisk said:

“The transition to a low-carbon world will transform every aspect of the UK economy.

“We have a kindred spirit in Finland; a country that shares the UK’s commitment to developing clean tech and low-carbon technologies. Both our governments strongly back this process. We have the research capability and the skills to make the UK a great place to invest in low carbon technologies.

“The UK is already one of the largest markets in the world for low-carbon goods and services and there are already Finnish investors working here. I want to make sure potential investors understand Britain is open for business as well as the opportunities for them to do business here.”

The government’s UK Low Carbon Transition Plan outlines how emissions will be cut. It will also generate £450 million of investment for renewable and clean energy technologies.

The UK’s low carbon environmental goods and services market is the sixth largest in the world and is worth £112billion. UK Trade & Investment estimates the carbon capture and storage market will be worth £6.5billion a year by 2030 and could employ up to 100,000 people.

Britain is already a leader in many types of renewable energy such as offshore wind and has more installed offshore wind capacity than anywhere else in Europe.

Cleantech Finland is the body that promotes doing business in the country’s burgeoning renewables sector.

The event comes a month before London hosts European Energy Forum, helping to confirm the UK’s place as the centre of Europe’s low-carbon business.

Mr Prisk added:

“We will be welcoming many of these companies back to London next month for the European Future Energy Forum. As Britain takes its place as the leading country for clean technology, it will be another reason to welcome their investment.”