Offshore wind to power 20m homes within five years, Starmer to pledge

Written by Super User 26 Jul 2024
Offshore wind to power 20m homes within five years, Starmer to pledge

Keir Starmer will pledge to build enough offshore wind capacity to power 20 million homes within five years using taxpayer money to develop parts of the seabed owned by the royal family. During a visit to the north-west, the Prime Minister will announce details of the government’s energy company, Great British Energy, which will receive £8.3 billion to invest in green technologies. The goal is to develop an additional 20-30GW of offshore wind power in partnership with the Crown Estate. The investment aims to attract another £60 billion from private companies to help decarbonize Britain’s power sector by 2030. Starmer emphasized that this partnership will boost energy security, create skilled jobs, and lower energy bills. Great British Energy will focus initially on offshore wind but will also invest in other technologies like carbon capture and small nuclear reactors. The publicly owned company will keep a stake in projects to return profits to the government and fund future energy projects. Officials believe this initiative, supported by the Crown Estate’s expertise, will help meet the UK’s ambitious green energy targets and gain broad public support.

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