• Secretary of State has announced GB Energy’s first major partnership with the Crown Estate, with Bills to be laid later today 

• GB Energy has the potential to accelerate the energy transition and deliver clean power by 2030 

• Questions remain over how GB Energy will work in partnership with industry and across sectors for a successful transition 

The REA (Association for Renewable Energy and Clean Technology) has today welcomed the first major steps in the establishment of Great British Energy.  

Great British Energy has the potential to galvanise the transition to net zero by unlocking much needed private capital investment into energy generation and infrastructure, like hydrogen, marine technologies and bioenergy with carbon capture and storage. The announcement of a partnership with the Crown Estate is welcome, but Great British Energy’s operations must recognise a range of energies and technologies, and partnership with the private sector, will be required to achieve the Government’s clean power by 2030 target.  

To deliver secure, decarbonised as well as affordable energy for the UK, Great British Energy must deploy public funds strategically in order to deliver a wide range of technologies, crowd-in private sector investment and bring down the costs of the energy transition. 

Frank Gordon, Director of Policy at the REA (Association for Renewable Energy and Clean Technology), said: 

“We are encouraged to see the Government pushing ahead with the establishment of GB Energy. The new partnership with the Crown Estate signals intent to get building as quickly as possible and will help in establishing new offshore wind generation capacity. 

As the new organisation gets going, and the Secretary of State sets out its strategic priorities, the REA emphasises that the real potential of GB Energy is in unlocking sectors of the energy transition that private finance is not yet heavily involved in. Delivery of an energy system that lowers bills for UK households and businesses requires delivering investment in the UK’s supporting energy infrastructure, like our dated power grid, and derisking innovative technologies of strategic importance, like hydrogen, marine technologies and bioenergy with carbon capture and storage.  Doing so will enable private finance to enter the UK market faster, lowering the cost of the overall energy transition and delivering real returns for UK consumers.”