GB Energy aiming to attract £15bn in private financing

GREAT British Energy has vowed to generate enough clean energy to power almost 10 million homes, under new spending plans that it hopes will attract £15 billion worth of private finance.

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(BEN BIRCHALL/PA WIRE)

The publicly-owned energy body published its first strategic plan since being launched last year.

Based in Aberdeen, GB Energy was created with the aim of speeding up the transition to clean energy by investing in the country’s infrastructure and funding green projects.

It was launched last year under the Labour UK Government and was formally established in May.

The company, which is owned by the Department for Energy Security and Net Zero (DESNZ), but run independently, set out its targets for the next five years.