Great British Energy and Crown Estate target £60bn investment  

Launched today (July 25) by Prime Minister Sir Keir Starmer and Energy Secretary Ed Miliband with two new bills (The Great British Energy Bill and The Crown Estate Bill), the partnership will seek to ‘turbocharge energy independence’ through the expansion of renewables, predominantly offshore wind in seabed owned by the Crown Estate. According to the Estate, the partnership will help deliver 20-30GW of new offshore wind developments to seabed lease stage by 2030. 

“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,” Sir Keir said in a statement. “This agreement will drive up to £60bn in investment into the sector, turbocharging our country toward energy security, the next generation of skilled jobs, and lowering bills for families and business.”

It's claimed the partnership will see the public sector take on the role of additional early development work for offshore wind projects, reducing risk for developers and enabling projects to build out faster after leasing. Other renewable technologies set to benefit include carbon capture and storage, hydrogen, wave and tidal energy.