The UK Government has announced a partnership between Great British Energy and The Crown Estate to boost private investment in the UK’s energy sector. The project is expected to attract up to £60 billion in private investment to help the UK achieve energy independence.
Great British Energy will receive £8.3 billion for clean power projects throughout the UK. After the Energy Secretary lifted the ban on onshore wind and made cheap solar energy available, Great British Energy is expected to lead the government’s clean energy efforts.
Great British Energy’s first major partnership will involve two national institutions working together for the benefit of the British people. The Crown Estate, managing £16 billion in assets, contributes expertise and new investment powers. This collaboration is expected to produce 20-30 GW of offshore wind projects by 2030, capable of powering nearly 20 million homes.
Furthermore, Great British Energy will contribute industrial policy and investment. This partnership will offer a new public sector approach to early offshore wind development, reducing risk for developers and accelerating construction.
