LONDON, Dec 4 (Reuters) – Great British Energy, a state-owned energy company, unveiled a five-year strategic plan on \u200bThursday aimed at accelerating the country\u2019s transition to renewable \u200cpower to help meet its climate targets.<\/p>\n
Britain is seeking to largely decarbonise \u200cits power sector by 2030, a goal that it says will help drive down energy costs and that will also require a huge increase in renewable capacity.<\/p>\n
GBE was launched last \u2060year to invest in and \u200cco-develop clean power projects. The government has pledged a total of 8.3 billion pounds ($11.04 billion) \u200dover the current Parliament.<\/p>\n
Under the strategic plan, GBE said it would deliver some 15 gigawatts of clean energy generation and storage capacity \u200bby 2030, enough to power around 10 million homes, by \u200cusing its own investments and partnerships to help mobilise 15 billion pounds of private finance.<\/p>\n
The company will focus on three priority areas: local community energy, onshore energy development, and offshore wind expansion, and will operate as both developer and \u2060equity investor, with returns from the \u200bpublicly owned assets reinvested into new \u200bcapacity.<\/p>\n
\u201cGBE will build a portfolio which is generating income by 2030 and be on a pathway \u200dto company-wide profitability,\u201d \u2060the strategic plan said.<\/p>\n
The initiative is expected to directly support over 10,000 jobs, including in regions that are \u2060historically reliant on oil and gas, while backing more than 1,000 local \u200ccommunity energy projects, GBE said.<\/p>\n
($1 = 0.7519 pounds)<\/p>\n
(Reporting by \u200cSusanna TwidaleEditing by Frances Kerry)<\/p>\n","protected":false},"excerpt":{"rendered":"LONDON, Dec 4 (Reuters) – Great British Energy, a state-owned energy company, unveiled a five-year strategic plan on…\n","protected":false},"author":2,"featured_media":610565,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5018,3,4],"tags":[748,15899,190741,190742,393,4884,46639,1144,117610,712,190740,16,15,1764],"class_list":{"0":"post-610564","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-britain","8":"category-uk","9":"category-united-kingdom","10":"tag-britain","11":"tag-community-energy","12":"tag-energy-company","13":"tag-energy-generation","14":"tag-england","15":"tag-great-britain","16":"tag-great-british-energy","17":"tag-northern-ireland","18":"tag-renewable-power","19":"tag-scotland","20":"tag-strategic-plan","21":"tag-uk","22":"tag-united-kingdom","23":"tag-wales"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115658442985162169","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/610564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=610564"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/610564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/610565"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=610564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=610564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=610564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}