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The UK Government introduced the Great British Energy Bill on 25 July 2024, establishing GB Energy and partnering with The Crown Estate to accelerate offshore wind development. The partnership aims to secure seabed leases for 20-30GW of offshore wind capacity by 2030, addressing challenges like community consent and grid connections. The Crown Estate Bill, granting new borrowing powers, and the Planning and Infrastructure Bill will facilitate these goals. The initiative could power nearly 20 mil
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On 25 July 2024, the UK Government introduced the Great
British Energy Bill into Parliament to enable the
establishment of GB Energy and announced its first strategic
partnership, with The Crown Estate.
The new partnership aims to accelerate the delivery of clean
energy infrastructure and boost the UK's offshore wind sector,
claiming to lead to up to 20GW-30GW of new offshore wind
developments securing seabed leases by 2030. Whilst clearly
ambitious, it is not yet clear how the partnership will look to
overcome some of the sector's key challenges, including a lack
of community consent, environmental obstacles, and insufficient
grid connections.
The UK Government is alive to these issues and has looked to
address some of these obstacles in separate bills, confirmed in the
King's Speech. Under the proposed Crown Estate Bill,
the Crown Estate is set to receive new borrowing powers, aimed at
boosting investment in preparing its seabeds for offshore wind and
other projects. This includes the ability to borrow capital and
invest more flexibility.
In addition, a new Planning and Infrastructure Bill
will streamline the planning process for major energy projects,
including upgrading the national grid and boosting renewable
energy, including offshore wind.
The proposed Crown Estate Bill does not affect The
Crown Estate Scotland, which is a separate entity.
For a more in depth look at the UK's offshore wind sector,
read our report:
The Crown Estate estimates this
partnership will lead to up to 20-30GW of new offshore wind
developments reaching seabed lease stage by 2030, enough power for
the equivalent of almost 20 million homes.
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