Great British Energy (GBE) today sets out a clear, practical plan to accelerate the UK’s shift to renewable power and strengthen the nation’s industrial backbone.
Today’s publication outlines GBE’s priorities for the next five years and shows how a publicly owned energy company can drive investment, support workers, and ensure communities feel the benefits of the energy transition.
From GBE spend between now and 2030, Great British Energy will deliver:
- At least 15 GW of clean energy generation and storage assets – enough to power the equivalent of almost 10 million homes
- £15 billion of mobilised private finance over time, driven by GBE’s investments and long-term partnerships
- Support to over 1,000 local and community energy projects, expanding public participation and local control in the energy system
- More than 10,000 jobs, directly supported through GBE-backed and funded projects, including in areas historically dependent on oil & gas
- An income-generating portfolio, with income reinvested into more capacity and more opportunity
GBE will operate as a developer and equity investor, giving the public a lasting stake in the full lifecycle of clean energy infrastructure. The returns generated from publicly owned assets will be reinvested into new capacity, new jobs and new opportunities across the UK.
To support the delivery of its mission, GBE has set out three priority areas for investment:
- GBE Local – ensuring that communities, and public services directly benefit from the clean energy infrastructure in their area
- Onshore Energy – unlocking the energy potential of our land and strengthening grid stability across the country
- Offshore Energy – accelerating the UK’s leadership in deep-water offshore wind and driving long-term growth in the sector
The Plan also provides further detail on the £1 billion “Energy – Engineered in the UK” programme, a major initiative designed to strengthen the UK’s industrial base and help deliver the UK’s Industrial Strategy. The programme will help build a resilient, long-term supply chain for clean energy and support high-quality jobs across the country. It will be formally launched later this month.
Great British Energy’s CEO, Dan McGrail, said: 'We are proud to be putting public ownership to work, unlocking investment, powering communities, creating jobs, and building an energy system that delivers for the UK. This Strategic Plan marks a major milestone in our mission to accelerate clean energy and the industries that support it.'
Great British Energy’s Chair, Juergen Maier, said: 'This plan puts the UK public at the heart of our energy future. By investing in clean power, supporting local projects, and unlocking British industry, Great British Energy will help deliver an energy system that works for everyone.'
Energy Secretary, Ed Miliband, said: 'We set up Great British Energy to be a national champion that allows us to reap the benefits of Britain’s natural resources. This plan shows what a publicly-owned energy company will deliver: an abundance of clean, homegrown energy for British people and thousands of good jobs across the country.'
Background
- Great British Energy was established by the UK Government to accelerate the country’s transition to clean, home-grown energy. By investing directly in renewable generation, local supply chains and innovation, GBE aims to create good jobs, lower bills, and secure Britain’s energy independence.
- The full Strategic Plan will be available on the Great British Energy website from Thursday 4 December.
- The Plan is a response to the Energy Secretary’s Statement of Strategic Priorities which was published earlier this year.
- Great British Energy will build a portfolio that generates some returns by 2030 and sets the foundations for portfolio-wide profitability in the longer term.
- The plan has been developed in collaboration with industry and community partners, including through detailed market engagement workshops held in Edinburgh, London, Belfast and Cardiff.
Source: GB Energy
