DESNZ releases joint invitation to clean energy investors

Article summary

The Department for Energy Security and Net Zero (DESNZ), Department for Business and Trade, HM Treasury, Great British Energy (GB Energy) and the National Wealth Fund (NWF) have released a joint open letter to clean energy developers and investors. The letter announces £300m in initial funding through GB Energy for domestic offshore wind supply chains, and outlines the NWF's £27.8bn deployment capacity across loans, equity investments and guarantees. The government plans to publish a Clean Energy Industries Sector Plan in Spring 2025, following recent Ofgem reforms to accelerate grid connections. The initiative aims to position the UK as a destination for clean energy investment, supporting the government's target of achieving a clean power system by 2030.