Zero: The Climate Race The UK now has a state-owned clean-energy champion. Can it succeed?
Jul 3, 2025
Dan McGrail, Interim CEO of Great British Energy, leads discussions on the ambitious goals for the UK's new state-owned energy company. He outlines a substantial £5.8 billion funding plan aimed at achieving 95% clean power by 2030. McGrail emphasizes the potential of floating offshore wind technology and the government's initiative to invest £700 million in clean energy supply chains. He also illustrates how public institutions can promote sustainability through innovative projects, aiming for a greener future across the UK.
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State Role in Energy Transition
- Great British Energy aims to give British people a stake in the energy transition, creating economic and social value.
- It will invest in frontier technologies that need government backing to become mainstream by 2035.
Focusing on Floating Offshore Wind
- GB Energy targets risky, early-stage floating offshore wind projects needing government backing.
- It aims to bridge the development gap to crowd in private capital for full-scale investment.
Mix Grants and Equity Investments
- GB Energy will balance grant funding with equity investments to support promising clean tech companies.
- It collaborates with partners to build supply chains and foster growth in innovative energy sectors.