Today, the UK Government launched Great British Energy, a new publicly owned company aimed at accelerating the delivery of clean energy.
Great British Energy will focus on five main areas:
- Project Development: It will lead energy projects through development stages, ensuring faster delivery.
- Project Investment: The company will invest in energy projects alongside the private sector, helping to get these projects off the ground.
- Local Power Plan: It will support local energy generation projects by working with local authorities, combined authorities and communities.
- Supply Chains: Great British Energy will build supply chains across the UK, boosting the UK’s energy independence and creating jobs.
- Great British Nuclear: The company will explore collaboration with Great British Nuclear, considering how its functions will fit with Great British Energy.
The Crown Estate, an independent organisation with a £16 billion portfolio of land and seabed, will partner with Great British Energy.
This partnership aims to develop 20-30GW of new offshore wind farms by 2030, enough to power nearly 20 million homes.
The Great British Energy Bill, introduced in the House of Commons, outlines the company’s objectives and ensures it has access to necessary finances.
The Secretary of State will set strategic priorities for Great British Energy, aligning it with the government’s goal of accelerating clean energy delivery in the UK.
Additionally, the government is discussing with the Scottish Government and The Crown Estate Scotland how Great British Energy can support new developments and investments in Scotland.
The company will be headquartered in Scotland.
