UK Commits £700 Million to Accelerate the Rise of GB Energy

Some of the UK’s most prominent public finance institutions, investment bodies, and offshore wind industry leaders are coming together to streamline support for Britain’s offshore wind ambitions. Their goal? To give developers and investors a clear and confident route to securing capital, while scaling up the domestic supply chain that underpins one of the UK’s most promising clean energy sectors.

At the heart of this initiative is a unified funding strategy that brings together key players, including Great British Energy, the National Wealth Fund, the Scottish National Investment Bank, the Crown Estate, Crown Estate Scotland, and the Development Bank of Wales. Alongside them, the Offshore Wind Growth Partnership (OWGP), acting as the sector’s dedicated industry funding organisation, will play a central role in directing resources and aligning priorities.

The plan is straightforward but ambitious: build an integrated public finance ecosystem that supports British manufacturing, strengthens supply chains, and fuels the next wave of offshore wind projects.

The Clean Power 2030 Action Plan has already mapped out what success could look like—bigger capacity targets, more domestic IP and innovation, and a resilient wind energy supply chain ready to meet growing demand. What today’s announcement adds is a transparent and collaborative funding approach that ensures capital is deployed strategically and at scale.

Public bodies involved have committed to working together to determine who is best placed to fund a particular project or whether a joint investment approach is more effective. This coordination enables public money to stretch further and deliver more. It also provides developers, suppliers, and investors with a clearer understanding of where to go, what support is available, and how to integrate into the broader ecosystem.

As part of this effort, Great British Energy will provide £300 million in initial support, and other institutions are expected to match that ambition with their own grant funding and commercial investments. Importantly, each participating organisation will still follow its governance process, but with a shared understanding of the broader industry goals.

The ultimate goal is to attract substantial private capital. By aligning public finance and industry funding, the UK aims to unlock a multiplier effect, driving total investment into the sector while accelerating the development of its clean energy infrastructure.

With backing from the Offshore Wind Industry Council and support from developers already engaged in the space, OWGP is uniquely positioned to link public finance with the right private partners. This will not only boost investor confidence but also fast-track the commercialisation of new offshore technologies and services.

Rob Gilbert, Supply Chain Director at Great British Energy, summed it up clearly: “Clean power by 2030 has given the industry a singular focus towards achieving our offshore targets. With the creation of GBE, we can now fully support the offshore wind supply chain and work within a structured ecosystem of capital, delivering the right funds to the right projects, enabling private investment, and catalysing support.”