Britain's GB Energy to work with Crown Estate on clean energy projects
By Susanna Twidale
LONDON, July 25 (Reuters) -Britain's new state backed power company GB Energy will work with the Crown Estate to boost investment in and help develop clean energy projects, the government said on Thursday.
Under the terms of the agreement the Crown Estate will create a new division to work with GB energy and for the first time help develop new offshore wind farms, which the government says has the potential to attract between 30 to 60 billion pounds ($77.48 billion) of private investment.
The Crown Estate estimates the partnership will lead to up to 20-30 gigawatts of new offshore wind developments reaching seabed lease stage by 2030, enough power for the equivalent of almost 20 million homes.
"The agreement with the Crown Estate will lead to more investment, cleaner power ... and is a statement of intent that it will be a permanent and transformative institution for our country," said Ed Miliband, the minister for Energy Security and Net Zero said in a statement.
The new Labour government has a target to decarbonise the electricity sector by 2030 which will require a huge and rapid ramp up of renewable power capacity such as wind and solar.
The government will on Thursday put forward legislation to enable the creation of GB Energy, which will be its main tool drive investment in energy, backed by 8.3 billion pounds ($10.73 billion).
The Crown Estate, which comprises of tracts of land and most of Britain's sea bed and is an independently run, commercial business, whose profits go to the Treasury.
It has auctioned leases for sea beds to host offshore wind projects but has not previously been involved in their development.
Profit from the Crown Estate are also used as the benchmark for the level of public funding for the Royal Family, currently set at 12%.
Britain is already the world's second largest offshore wind market by capacity, after China, but the sector has been hit by spiralling costs amid high inflation and bottlenecks in the supply chain.
Last week the government proposed changing rules to allow the Crown Estate to borrow money to invest which the Estate said would give it greater flexibility in the way it supports renewable projects.
The Crown Estate on Wednesday reported record profit due to revenue from offshore wind sea bed leases.
($1 = 0.7744 pounds)
Reporting By Susanna Twidale and Andrew MacAskill; editing by David Evans
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
