The British government has unveiled its Clean Energy Industries Sector Plan, committing an additional £700 million to Great British Energy, aiming to establish the UK as a global leader in the green revolution and create thousands of jobs across the nation.
In a significant move towards securing a sustainable and prosperous future, the UK government today published its ambitious Clean Energy Industries Sector Plan, reinforcing its commitment to ensuring the burgeoning clean energy revolution is 'built in Britain'. The plan, detailed by the Department for Energy Security and Net Zero, promises to unlock immense job creation and economic growth opportunities, particularly in the nation’s industrial heartlands and coastal communities.
At the core of this landmark strategy is an additional £700 million injection into Great British Energy, the state-backed champion for clean energy. This funding is earmarked specifically for investing in crucial clean energy supply chains, ensuring that key components – from floating offshore platforms and electric cables to cutting-edge hydrogen infrastructure – are manufactured domestically. This new allocation builds upon Great British Energy's initial £300 million for offshore wind supply chains, which has already catalysed a further £700 million from industry and The Crown Estate, bringing the total public and private funding in clean energy supply chains to an impressive £1.7 billion.
Energy Secretary Ed Miliband emphasized the government's strategic vision, stating, "This government is doubling down on Britain’s clean power strengths as we build this new era of clean energy abundance, helping deliver good jobs, energy security and lower household bills. The UK’s pitch is clear – build it in Britain. Power the world." His words underscore the dual objectives of enhancing energy independence and leveraging economic opportunities presented by the global shift to green energy.
The plan comes amidst a period of robust investment in the UK’s clean energy sector, with over £40 billion in private investment announced since July. The government aims to significantly amplify this momentum, targeting at least a doubling of current investment levels across 'frontier Clean Energy Industries' to more than £30 billion annually by 2035. This long-term commitment follows the Spending Review's confirmation of the largest program of homegrown energy investment in UK history, including substantial funding for nuclear projects like Sizewell C and small modular reactors, alongside a £9.4 billion allocation for carbon capture industries.
The Clean Industry Bonus, a financial incentive scheme designed to encourage offshore wind developers to invest in homegrown supply chains, is also under consideration for expansion to other sectors such as hydrogen and onshore wind. This strategic expansion aims to ensure that clean energy investment is channeled into regions most in need, including traditional oil and gas communities, ex-industrial areas, and coastal communities, fostering equitable growth nationwide.
