Energy giant plans on hold following Brexit decision

PLANS from Siemens to invest further in wind energy in the UK have been put on hold as the results of the decision to leave begin to crystallise.

The German energy giant was one of the few large corporates to throw its weight behind either campaign in the run up to the European Union referendum.

Now, following the decision to leave the EU was returned by the British public, Siemens has announced that it is pausing investments until the UK’s position in relation to the EU is clarified according to The Guardian.

It is unclear how much the EU invested in the development, but the £310m manufacturing hub at Alexandra Dock in Hull, employing 1,000 people will affected.

However plans to export turbine machinery from the site have been put on hold.

Juergen Maier, Siemens’ UK CEO told The Guardian: “Those plans were only beginning to happen and I expect that they will stall until we can work out exactly what the [new government’s] plan is, how we can participate in EU research programmes, and until all the issues around tariffs and trade have been sorted out.”

The company has today announced a further 100 jobs being advertised in the Hull region, bringing its total new hires for the blade factory to 500.