UK’s Crown Estate and Great British Energy collaborate to boost clean energy generation
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The Prime Minister of the UK and the Energy Secretary announced a new partnership between Great British Energy and The Crown Estate. The collaboration can potentially leverage up to £60 billion of private investment into the UK’s drive for energy independence.
Prime Minister Keir Starmer said, “This innovative partnership between Great British Energy and The Crown Estate is an important step toward our mission for clean energy by 2030 and bringing down energy bills for good.”
The Crown Estate estimates this partnership will boost Britain’s energy independence by investing in homegrown power. It will lead to 20-30 GW of new offshore wind developments reaching the seabed lease stage by 2030.
Chief Executive of the Crown Estate Dan Labbad said, “With new powers and by partnering with the government, we can drive greater investment into this future for our country and, with it, support nature recovery and job creation.”
The announcement added that the partnership will include the public sector taking on a new role in undertaking additional early development work for offshore wind projects.
This will ensure that future offshore wind development has a lower risk for developers, enabling projects to build out faster after leasing and crowding in private sector investment.
Read more: RWE and Masdar’s Dogger Bank South offshore wind projects advance to the next stage
It will also help boost new technologies such as carbon capture and storage, hydrogen, wave and tidal energy.
Energy Security and Net Zero Secretary Ed Miliband said, “The agreement with The Crown Estate will lead to more investment, cleaner power, more energy security, and is a statement of intent that it will be a permanent and transformative institution for our country.”
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