The UK Government has launched Great British Energy (GBE), a new publicly owned company aimed at accelerating the delivery of clean energy. GBE 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: GBE will build supply chains across the UK, boosting the UK’s energy independence and creating jobs.
- 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 £16bn ($20.5bn) portfolio of land and seabed, will partner with GBE to develop 20-30 GW of new offshore wind farms by 2030. The company will be headquartered in Scotland. Juergen Maier, former CEO of Siemens UK, will be GBR Chair.
Prime Minister Keir Starmer said: “This innovative partnership between Great British Energy and the Crown Estate is an important step toward our mission for clean energy by 2030, and bringing down energy bills for good. This agreement will drive up to £60 billion in investment into the sector, turbocharging our country toward energy security, the next generation of skilled jobs, and lowering bills for families and business.”
Energy Security and Net Zero Secretary Ed Miliband said: “Great British Energy comes from a simple idea – that the British people should own and benefit from our natural resources. Investing in clean power is the route to end the UK’s energy insecurity, and Great British Energy will be essential in this mission.”
The government’s policy paper on GBE said Great British Nuclear was set up in March 2023 to help deliver government’s new nuclear projects, to provide energy security and clean power for the future. “We are exploring how Great British Energy and Great British Nuclear can best work together, including considering how Great British Nuclear functions can be aligned with Great British Energy. Great British Nuclear is an expert nuclear delivery body that will provide the specialist capability and skills necessary to help deliver the government’s nuclear programme. The government is determined to advance the work of Great British Nuclear.”
