Publicly-owned GB Energy to be headquartered in Aberdeen

Key Points

Scotland to ‘lead the clean energy revolution’ with Aberdeen base of GB Energy
‘Highly-skilled workforce’ to deliver UK’s transition to net zero
UK ministers have been in talks with the Scottish Government and Crown Estate Scotland
Keir Starmer to make official announcement in coming weeks

Aberdeen is expected to be the headquarters of GB Energy, STV News understands.

Labour has pledged to create the publicly-owned energy generation company headquartered in Scotland to drive the Government’s goal of making the UK a “clean energy superpower”.

Ministers have said it will secure Scottish industries like offshore wind and hydrogen.

So far, former Siemens UK boss Juergen Maier has been appointed as chairman of the firm while the UK Government is actively recruiting staff.

It’s expected that the company will bring tens of thousands of jobs to Scotland.

GB Energy will own, manage and operate clean power projects to develop more renewable energy and cut emissions.

The company won’t supply energy directly to households but will work with the private sector to co-invest in emerging technologies to help make the UK a “clean energy superpower” as it moves away from fossil fuels.

GB Energy will be funded through windfall tax on oil and gas firms, which Labour claim will raise around £8.6bn over the next five years.

Prime Minister Keir Starmer is expected to officially announce GB Energy’s home in the coming weeks with the Energy Deparment saying it would not comment at this time.

After it was confirmed in the King’s Speech in July that the firm would be based in Scotland, calls were made for Aberdeen to be chosen as its base as the centre of the north east oil and gas industry.

Russell Borthwick, chief executive of Aberdeen and Grampian Chamber of Commerce, said: “Aberdeen has been Europe’s energy capital for half a century – home to energy companies large and small, a thousand supply chain firms, vast renewables potential off our shores and the highly-skilled workforce who will deliver the UK’s transition to net zero.

“To deliver that shared mission – which must be done in partnership between government, industry, workers and the community at large – an Aberdeen HQ makes sense.”

Friends of the Earth Scotland just transition campaigner Rosie Hampton said the move will keep the benefits of the energy transition in the North East.

“If GB Energy enhances the role of public ownership and redirects revenue into the region, that could be a marked departure from how greedy oil giants have extracted profits for decades without much redistributed benefit for communities”, she added.

A Department for Energy Security and Net Zero spokesperson said: “We do not comment on speculation. Decisions on Great British Energy’s location will be announced in due course.”