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:
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