The UK government has unveiled a major new partnership between Great British Energy and The Crown Estate, aimed at significantly enhancing the country’s energy independence. Announced by Prime Minister Keir Starmer and Energy Secretary Ed Miliband. The Crown Estate estimates this partnership will lead to up to 20-30 GW of new offshore wind developments reaching seabed lease stage by 2030.

This capacity would be sufficient to power nearly 20 million homes and will play a crucial role in achieving the government's ambitious goal of decarbonizing the electricity system by 2030, supported by up to 50-60 GW of operational offshore wind energy.

"My government is laser focused on delivering change, to make people better off. 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," Stramer said.

The partnership is projected to unlock billions of pounds in private investment, focusing on advancing and expanding clean energy projects across the nation. This strategic alliance will be instrumental in supporting the UK’s commitment to becoming a global leader in renewable energy and reducing dependence on fossil fuels.

Great British Energy, a new entity owned by the British public, will play a pivotal role in this initiative. Backed by £8.3 billion in new funding over the current Parliament, it will lead investments in renewable energy projects, enhancing the UK’s energy infrastructure and fostering regional development.

The Crown Estate, which has a £16 billion portfolio of land and seabed, operates independently and returns its profits to the government, brings long-established expertise to the partnership, and new investment and borrowing powers recently announced by government. 

This partnership will see the public sector taking on a new role undertaking additional early development work for offshore wind projects. This will ensure that future offshore wind development has lower risk for developers, enabling projects to build out faster after leasing and crowding in private sector investment. It will also help boost new technologies such as carbon capture and storage, hydrogen, wave and tidal energy.    

The Prime Minister has confirmed that Great British Energy will be headquartered in Scotland and will back energy generation projects in the UK, bringing profits back to the British people. The UK Government is in discussions with the Scottish Government and?Crown Estate Scotland on how Great British Energy could help to support new development and investment within Scotland. 

The government is already legislating to give both Great British Energy and The Crown Estate the powers they need to rapidly deliver, with two Bills being introduced in Parliament today. 

According to RenewableUK’s Chief Executive Dan McGrail, "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".