UK Government Unveils £60 Billion Clean Energy Partnership Between Great British Energy and The Crown Estate

The UK government has announced a significant partnership between Great British Energy (GBE) and The Crown Estate, aiming to accelerate the country’s transition to clean energy and achieve energy independence. This partnership is expected to attract up to £60 billion in private investment into the UK’s energy sector. GBE, described as a company owned by the British people, will receive £8.3 billion in funding over the current Parliament to invest in clean power projects across the UK.

The Crown Estate, with its extensive portfolio of land and seabed valued at £16 billion, will leverage its expertise and newly granted investment and borrowing powers to support the development of up to 20-30GW of new offshore wind projects by 2030. This initiative is part of a broader strategy to reduce risks for developers, speed up project implementation, and encourage private sector investment.

The partnership will also focus on advancing technologies such as carbon capture and storage, hydrogen production, and wave and tidal energy. Prime Minister Keir Starmer emphasised that GBE, headquartered in Scotland, will play a crucial role in backing energy generation projects in the UK. The government is introducing two Bills to Parliament to grant GBE and The Crown Estate the necessary powers to expedite delivery.

Juergen Maier, former CEO of Siemens UK, has been appointed as the chair of GBE. The company’s key functions include project development, investment, support for local energy projects, supply chain development, and collaboration with Great British Nuclear.

The Great British Energy Bill, to be introduced in the House of Commons, will establish the new company’s objectives and ensure it has the financial resources needed. The Secretary of State will set GBE’s strategic priorities to align with the government’s goal of accelerating the delivery of clean energy in the UK. The Crown Estate Bill will remove restrictions on The Crown Estate’s activities, enhance its investment powers, and allow borrowing, thereby unlocking investment in public infrastructure.

This partnership is a significant step towards achieving net-zero emissions by 2030 and reducing energy bills for households and businesses. It is part of a broader effort to create skilled jobs, boost energy security, and support nature recovery and job creation.

#CleanEnergyPartnership #GreatBritishEnergy #TheCrownEstate #EnergyIndependence #NetZero2030 #RenewableInvestment #GreenEnergyJobs #EnergySecurity #ShropshireGreenEnergyCentre

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