Great British Energy (GBE) has published its first Statement of Strategic Priorities, setting out how the new publicly owned company will help make the UK a clean-energy superpower.
With its headquarters in Aberdeen, GBE is is looking to draw on the city’s world-leading engineering expertise as it accelerates deployment of low-carbon power and aims for what it calls a secure, affordable energy system for households and businesses.
At the heart of the document is GBE’s mission: to speed up clean-energy deployment, boost UK energy independence, lower bills “for good,” and ensure taxpayers, billpayers and communities reap the benefits of home-grown power.
The company has been capitalised with £8.3billion and tasked with developing, owning and operating clean-energy assets, while reinvesting returns for the public good. It will also seek to become self-sustaining and operate without subsidy over time.
GBE’s first strategic objective is to drive clean-energy deployment across the UK. Acting as a strategic developer, investor and owner, it will back projects from early-stage design through to operation.
Alongside established renewables such as offshore wind and solar, GBE will support newer technologies, invest in supply chains, and help de-risk projects to unlock private finance.
Its second core goal focuses on ensuring the benefits of the energy transition flow to people and places across the UK.
That includes expanding public and community ownership of clean-energy assets, creating high-quality jobs – particularly in industrial heartlands – and supporting what it describes as a fair and equitable transition with strong worker representation.
To meet these aims, GBE plans to invest in supply-chain capacity, strengthen local and community energy through a forthcoming Local Power Plan, and partner with public bodies, devolved administrations and industry.
The company is expected to publish a detailed Strategic Plan within six months, mapping how it will deliver Clean Power by 2030 and contribute to Net Zero by 2050.
You can read the full document here.
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