CBI responds to GB Energy announcement

Rain Newton-Smith, CBI Chief Executive, said:

“Business backs the Government’s focus on bolstering energy security and increasing infrastructure investment as key priorities in the transition towards greater clean power generation.

“Using GB Energy to accelerate offshore wind and act as a catalyst for investment in new green technologies will encourage business that it is focused on crowding-in private sector investment. Clarifying how it will operate in practice can provide further reassurance to investors and supply chains alike.

“A key priority for the government should be clarifying the institutional scaffolding intended to connect GB Energy’s role within the market to the investment priorities of the National Wealth Fund.

“Basing GB Energy in Scotland, the hub of the UK energy sector, will not only create local jobs but allow the new entity to benefit from a wealth of energy expertise. The UK and Scottish governments must work together, and with business, to maximise this opportunity and ensure the benefits reach all corners of the country.”