WHAT IS GREAT BRITISH ENERGY?

Great British Energy (GBE) is a transformative initiative by the UK government aimed at driving the deployment of clean energy, creating jobs, boosting energy independence, and ensuring that UK taxpayers, bill payers, and communities benefit from clean, secure, home-grown energy.

GBE will play a crucial role in delivering the transition to clean energy by investing in and owning clean power generation assets. This includes technologies like floating offshore wind and carbon capture, which are essential for the UK's clean energy future. GBE aims to generate publicly owned revenue that can be reinvested into future energy projects, creating further benefits for UK taxpayers and communities. By collaborating with institutions such as the National Wealth Fund and the UK Infrastructure Bank, GBE will maximise the value of government investments in the energy sector.

In partnership with The Crown Estate, GBE will support the development of clean energy technologies. This collaboration will bring forward new offshore wind developments and stimulate innovation in areas such as floating wind, hydrogen, carbon capture, and tidal energy. The Crown Estate will establish a new division, ‘Great British Energy: The Crown Estate’, to accelerate offshore wind projects, potentially delivering up to 30 GW of additional offshore wind seabed leases by 2030. This partnership aims to attract substantial private investment and speed up the delivery of clean energy projects.

The Local Power Plan is an integral part of GBE’s strategy to decentralise energy production and ensure that local communities benefit from clean power projects. By partnering with Local and Combined Authorities and Community Energy Groups, GBE will support the rollout of small and medium-scale renewable energy projects, aiming to develop up to 8 GW of cheaper, cleaner power. This plan will increase local generation and ownership, create skilled clean energy jobs, and enhance the resilience of the energy system. The Local Power Plan will also provide technical and project-planning assistance to local authorities and community groups to help build a successful pipeline of local projects.

The sustainability of UK supply chains is vital for achieving greater energy security. GBE will drive investment in clean, home-grown energy production and build supply chains across the UK. Working with DESNZ, The Crown Estate, the National Wealth Fund, and other public sector entities, GBE aims to support the deployment of key energy projects and transition to a decarbonised power system by 2030. This will involve developing domestic manufacturing and supply chains for offshore wind, carbon capture, and other clean energy technologies, thereby boosting skilled jobs in these essential industries.

5. Great British Nuclear

Established in March 2023, It aims to deliver new nuclear projects to ensure energy security and provide clean power for the future. GBE and Great British Nuclear will explore synergies, aligning their functions to advance the government's nuclear programme. As an expert nuclear delivery body, Great British Nuclear will provide the specialist capability and skills necessary to achieve the government's nuclear ambitions, working in tandem with GBE to further the UK's clean energy goals.

Through these strategic initiatives, Great British Energy is set to make a significant impact on the UK's energy landscape, driving the nation towards a sustainable and secure energy future while ensuring that the benefits of this transition are widely distributed across communities.

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