The British Government has announced its legislative agenda for 2025, including the creation of a new clean power company, Great British Energy. The new public body will invest in renewable energy, particularly in the development of offshore wind, by developing, owning and operating assets in partnership with the private sector. The company will be headquartered in Scotland (UK) and it will be capitalised with GBP8.3bn (almost €9.8bn) in funds over the course of the Parliament.
The Government has also announced the introduction of the Crown Estate Bill, which will allow The Crown Estate to borrow money under its capacity as the seabed landlord, a measure expected to bring forward 20-30 GW of new offshore wind seabed leases by 2030. The bill does not affect the Crown Estate Scotland, since they are separate entities.
The bills aim to speed up and streamline the delivery process for critical infrastructure including accelerating upgrades to the national grid, boosting renewable energy, and secure domestic energy security. The UK aims to reach 50 GW of offshore wind capacity by 2030, to fully decarbonise its power system by 2035.
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