Great British Energy (GBE) has published its first strategic plan setting out its role in accelerating the UK’s shift to renewable power. The document outlines priorities for the next five years and describes how a publicly owned energy company can support investment, workers and communities.
From planned spending between now and 2030, Great British Energy aims to deliver at least 15 GW of clean energy generation and storage, mobilise £15 billion in private finance over time, support more than 1,000 local and community energy projects, and directly back over 10,000 jobs, including in areas with a history of oil and gas activity. The organisation intends to build an income-generating portfolio with returns reinvested into further capacity and employment.
Great British Energy will act as both developer and equity investor to maintain public ownership across the full lifecycle of clean energy infrastructure. Reinvestment of returns from publicly owned assets is presented as central to its long-term approach.
To support delivery of its mission, Great British Energy has identified three priority areas for investment:
- GBE Local – focusing on community and public-service benefits from nearby clean energy infrastructure
- Onshore Energy – making greater use of land-based resources and supporting grid stability
- Offshore Energy – advancing the UK’s position in deep-water offshore wind and encouraging sector growth
The plan also provides further detail on the £1 billion “Energy – Engineered in the UK” programme, intended to strengthen the UK’s industrial base and contribute to the national industrial strategy. It will be formally launched later this month.
