UK Parliament Passes Great British Energy Bill, Paving Way for GBP 300 Million Investment in Offshore Wind Supply Chain

In April this year, the government announced the GBP 300 million funding for domestic offshore wind supply chains through Great British Energy.

The public investment complements the GBP 43 billion of private investment pledged for clean energy projects since July 2024, according to the government.

In 2024, DSNEZ said the legislation establishing GB Energy would cement the five key functions the state-owned company will have: project development, project investment, local power plans, building supply chains, and exploring how Great British Nuclear (a state-owned nuclear energy and fuels company) and Great British Energy will work together.

The Great British Energy Bill also includes the Secretary of State having the ability to set Great British Energy’s strategic priorities to ensure it remains focused on the government’s aim to speed up the delivery of homegrown clean energy power in the UK.

Following the passing of the bill by the Parliament, DSNEZ said the Energy Secretary is set to outline Great British Energy’s strategic priorities, including which technologies the government expects the company to focus on and how it should consider the public benefits from investment decisions.

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