Policy background
The government has a mission to make the UK a clean energy superpower, delivering clean power by 2030 and accelerating to net zero. The scale of the transformation required to achieve an affordable, secure and decarbonised power system by 2030, and to maintain this as demand grows through to 2050, requires significant investment in our generation capacity and close collaboration between the private sector and government.
	Great British Energy’s mission is to drive clean energy deployment to create jobs, boost energy independence, and ensure UK taxpayers, billpayers, communities benefit. Great British Energy will work in partnership with industry and unions, as well as communities, local authorities, and other public sector organisations.
	To deliver this mission, Great British Energy will establish itself as an expert development partner that will develop, invest in, own, build and operate clean energy projects across the UK. Great British Energy will also increase support for local power generation and ensure local communities continue to directly benefit from clean energy projects. Finally, Great British Energy will help drive the growth of domestic manufacturing and supply chains.
	While Great British Energy is being set up to have an early impact, it is also being set up for long-term success beyond 2030 to help meet future demand from delivering a net zero UK economy.
	In accordance with its objects, which the Act establishes, Great British Energy is able to engage in all aspects of clean energy projects, including design, development, construction, commissioning and operation of projects. The policy intent is that this section covers supporting infrastructure across the clean energy supply chain, and measures that support the security of supply and energy efficiency. Great British Energy is able to provide support through a variety of mechanisms including, but not limited to, equity, loans, grants, insurance, and guarantees.
	Great British Energy will also be a sector leader in ethical energy supply chains, including through taking measures to ensure slavery and human trafficking are not taking place in its supply chains.
	Through the objects in section 3(2)(a) to (e), Great British Energy is able to:
undertake a range of activities to drive clean energy deployment. This includes, but is not limited to, investing in new technologies and partnering with the private sector to accelerate the deployment of mature technologies.
invest in, own, manage and operate energy projects that help to decarbonise the energy system. This could include, for example, power plants fitted with carbon capture infrastructure.
support decarbonisation through energy efficiency measures, for example, where projects best address generation and energy efficiency together.
support UK energy independence and respond to any potential future energy crises.
undertake measures to ensure slavery and human trafficking is not taking place in its supply chains. This could include, but is not limited to, appointing a senior leader to provide oversight to ensure robust practices are in place across Great British Energy to tackle forced labour.
These objects can include projects involving or benefitting local communities, recognising the important role community energy has in delivering the clean energy transition.