Bill to create 'Britain’s Orsted' GB Energy passes parliament
Energy secretary Ed Miliband says GB Energy is born of a 'simple idea' that British people should own and benefit from their own natural resources
A bill to launch the UK’s new national clean power champion GB Energy, which is tipped to play a key role in the country’s burgeoning floating offshore wind sector, has passed parliament.
Launching GB Energy was a flagship promise of the Labour Party before it swept to power in last year’s general election.
“Great British Energy comes from a simple idea,” said energy secretary Ed Miliband, announcing the news today. “British people should own and benefit from our own natural resources.”
Miliband has previously decried how public ownership of energy resources is anathema to the Conservative Party, which had previously held power for 14 years before the election, but only UK public ownership.
“We are giving people a stake in clean energy and delivering profits for the British people,” said Miliband today.
Speaking today, he said GB Energy was “created to ensure British people reap the benefits of clean, secure, homegrown energy.”
“We now have full backing to scale up the company, crowd in investment, and back clean energy projects across the country.”
GB Energy will develop, own and operate renewable energy assets over the long term. It is backed by £8.3bn ($11bn) over the course of this parliament, which runs until 2029.
RenewableUK chief Dan McGrail was recently named interim CEO of GB Energy, whose board met for the first time in its Aberdeen headquarters in March.
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