Department for Energy Security and Net Zero, Great British Energy Multi-Year Capitalisation Scheme

This Department for Energy Security and Net Zero, Great British Energy Multi-Year Capitalisation Scheme will provide up to £5.3b of investment into Great British Energy Group Limited (GBE) over a four-year period. This funding, ancillary services and related benefits will be provided in exchange for shares issued by GBE through a facility agreement between DESNZ and GBE. Specifically, the investment will be used for:

• project development and investment;
• supply chain equity investment;
• sub-commercial loans for local and community energy; and
• ongoing operationalisation of GBE.

Our key takeaways from the Subsidy Advice Unit (SAU) report are:

• Assessment need to explain how targets which are set will keep the subsidy to the minimum necessary, including through comparison to industry benchmarks.

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