GB Energy is partnering with the Crown Estate in a bid to unlock offshore wind from planning obstacles and accelerate decarbonisation.
The tie up coincides with the Government introducing the Great British Energy Bill to Parliament, effectively heralding its launch.
GB Energy, which will be based in Scotland, will co-invest in new technologies with the aim of attracting investment in the full suite of renewables, including hydrogen and carbon capture. The Crown Estate, positioned as a bridge between public and private sectors, has a £15.5 billion portfolio covering land and sea-based assets, including 36 wind farms, and its focus on Net Zero and energy security makes it a natural fit.
In a column in The Guardian, Ed Miliband, Secretary of State for Energy Security and Net Zero, said the new division will be called ‘Great British Energy: The Crown Estate’.
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