Great British Energy has unveiled its inaugural strategic plan, setting a clear target to deliver at least 15GW of clean energy generation and storage capacity by the end of the decade. This ambitious goal is part of a broader initiative to support 10,000 jobs directly and mobilise £15bn in private finance in the longer term. The state-owned energy company, headquartered in Aberdeen, aims to develop an income-generating portfolio across various technologies, including floating wind, onshore wind, and solar. These investments will not only generate returns for reinvestment but also create new supply chain opportunities.
The plan also includes a commitment to support over 1,000 local and community energy projects, fostering greater public participation in the energy system. This initiative is in response to the UK government’s statement of strategic priorities set out in September. Additionally, Great British Energy has detailed a £1bn Energy, Engineered in the UK programme, designed to provide supply chain funding and other strategic interventions to support the UK’s Industrial Strategy.
Dan McGrail, Chief Executive Officer of Great British Energy, expressed pride in the plan, stating, “We are proud to be putting public ownership to work, unlocking investment, powering communities, creating jobs, and building an energy system that delivers for the UK. This Strategic Plan marks a major milestone in our mission to accelerate clean energy and the industries that support it.”
Juergen Maier, Chair of Great British Energy, emphasised the plan’s focus on the public, saying, “This plan puts the UK public at the heart of our energy future. By investing in clean power, supporting local projects, and unlocking British industry, Great British Energy will help deliver an energy system that works for everyone.”
Energy Secretary Ed Miliband added his support, noting, “We set up Great British Energy to be a national champion that allows us to reap the benefits of Britain’s natural resources. This plan shows what a publicly owned energy company will deliver: an abundance of clean, homegrown energy for British people and thousands of good jobs across the country.”
This strategic plan could significantly shape the development of the UK’s energy sector. By focusing on clean energy generation and storage, Great British Energy aims to accelerate the transition to a low-carbon economy. The emphasis on community projects and public participation could also foster a more inclusive and resilient energy system. Additionally, the £1bn programme to support the supply chain aligns with the broader Industrial Strategy, potentially boosting domestic manufacturing and innovation.
The plan’s success will depend on effective execution and collaboration with private and public stakeholders. If realised, it could set a precedent for other countries looking to balance public ownership with private investment in the energy sector. The focus on local and community projects could also inspire similar initiatives globally, promoting a more decentralised and participatory energy landscape.