The Crown Estate to partner with Great British Energy

The Crown Estate is entering into a new partnership with Great British Energy to support the accelerated delivery of clean energy infrastructure, benefiting millions of homes and businesses across the country.

The partnership will bring together Great British Energy’s ability to invest and critical strategic industrial policy, with The Crown Estate’s long-established expertise in bringing forward the UK’s world leading offshore wind sector and new investment and borrowing powers recently announced by government.

You can read more on GOV.UK

Commenting on the announcement, Chief Executive of The Crown Estate Dan Labbad said:

“The Crown Estate exists to serve the national interest, including stewarding our natural resources to deliver a decarbonised, energy secure and sustainable future.  

“With new powers and by partnering with government, we can drive greater investment into this future for our country, and with it support nature recovery and job creation.”

Today’s news comes after it was announced in the King’s Speech (17 July 2024 ) that the government will bring forward legislation to modernise The Crown Estate’s investment powers. This includes the ability to borrow capital and invest more flexibility across its portfolio.

Commenting on the King’s Speech, Dan Labbad said: 

“We look forward to working with UK Government to bring forward this essential piece of legislation as soon as possible to modernise our investment powers. These powers will allow us to have an even greater impact across our portfolio and ensure we play our part in supporting the UK’s transition to a decarbonised, energy secure future; nature recovery; regeneration and economic growth; as well as increasing the profit we return to government for the benefit of the nation’s finances.”