
GB Energy will receive £300 million of funding to invest in domestic supply chains for the UK’s offshore wind sector.
The new investment aims to boost jobs, secure manufacturing facilities for critical clean energy supply chains like floating offshore platforms, and according to the UK government, could “directly and indirectly mobilise billions in additional private investment”.
The latest funding forms part of the previously announced £8.3 billion for GB Energy over the current parliament, with individual companies able to apply for grants if they can show that they will produce long-term investments in UK supply chains.
The fast-tracked funding is being brought forward by prime minister Keir Starmer ahead of the Comprehensive Spending Review.
The public investment complements the £43 billion of private investment pledged for clean energy projects since July.
Starmer said: “Delivering the Plan for Change means winning the race for the clean energy jobs of the future, which will drive growth and help us reach clean power by 2030.
“That is why I am bringing forward much-needed investment in our domestic offshore wind supply chains, strengthening our security and creating good jobs for our welders, electricians, and engineers.
“Let my message to the world go out: come and build the clean energy future in Britain.”
GB Energy
The funding forms part of the government’s modern Industrial Strategy and aims to help build the supply chains for components which are essential to delivering clean power by 2030.
His comments come as Starmer, along with energy secretary Ed Miliband and GB Energy chairman Juergen Maier will write to global clean energy developers and investors calling on them to invest in the UK’s economy.
Energy secretary Ed Miliband added: “It is only by taking back control of our energy that we can protect families and businesses from the rollercoaster of global markets we don’t control.
“That is why this government is doubling down on our clean energy superpower mission – driving economic growth, good jobs and investment across our country.”
GB Energy interim CEO Dan McGrail said: “Great British Energy will help the UK win the global race for clean energy jobs and growth by investing in homegrown supply chains and ensuring key infrastructure parts are made here in Britain.
“We will work closely with businesses across the clean energy sector to get funding out as fast as possible and get projects off the ground.”