The UK renewables industry has welcomed the new government’s “high level of ambition” to deliver clean, cheap power, through the partnership between Great British Energy and the Crown Estate.
RenewableUK also welcomes any measures from the Crown Estate that will cut the time it takes to build new offshore wind projects, with the announcement that the partnership intends to bring forward up to 30GW of new seabed leases will drive confidence among investors.
RenewableUK’s Chief Executive Dan McGrail said: “The Crown Estate’s greater borrowing powers will enable it to invest in our supply chain, including much-needed port infrastructure to accommodate vital new manufacturing for offshore wind.
“This should be intertwined with the Industrial Growth Plan set out by the sector as a blueprint to triple the UK’s offshore wind manufacturing capacity over the next ten years by focussing on high-value parts of the supply chain such as blades, turbine towers, foundations and cables.
“This would support an extra 10,000 jobs a year and boost the UK’s economy by a further £24 billion.”
He added that it is “really vital” that GB Energy “doesn’t disrupt” the billions of pounds of private investment the Government will need to deliver clean power ambitions, so the next steps of its development will have to be formed in close partnership with the sector.
“In the offshore wind industry alone, over £100bn of private capital will be needed to deliver the Government’s target of 60 gigawatts by 2030,” said McGrail.
One of GB Energy’s five tasks will be to support local energy generation projects through working with local authorities, combined authorities and communities.
Sarah Merrick, Founder and CEO of Ripple Energy, said: “A new era is emerging for the energy sector, with enhanced focus and meaningful action on making clean power affordable and accessible to everyone.
“The Local Power Plan will be central to its success, promising to support the development of community energy.
“However, if the ambitious target of clean power in the UK by 2030 is to be achieved, we need a community energy solution that can be delivered at scale and is fit for the digital age, as well as an end to the financial penalties such as unfair energy levies and tax on bill savings community energy can face.
“It’s clear cooperative owned energy has the potential to accelerate our transition to clean power, and we look forward to working alongside GB Energy to unlock this. Together, we can create an energy landscape that ensures sustainability and affordability for generations to come.”
Responding to the government announcement of plans to create GB Energy, TUC General Secretary Paul Nowak said: “We welcome Great British Energy being tasked with rapidly developing new clean power.
“Trade unions look forward to working with the government as this exciting new national energy champion gets up and running.”
Greg Jackson, Octopus Energy Founder and CEO, added: “The starting gun has been fired, and the race is now on for the UK to become a global clean energy superpower, delivering cheaper bills to British households.
“We’re particularly excited about the potential to speed up grid connections, which will allow us to build cheap green generation quickly.
“This will accelerate connections to new homes, factories, and data centres, thereby lowering bills and improving productivity.”