Legislation to establish GB Energy passes through Parliament
Legislation to establish the publicly owned Great British Energy company has formally passed through the UK Parliament and into law.
Scottish secretary Ian Murray called the moment a 'significant milestone' in the UK's journey towards a cleaner and more sustainable energy future.
The firm will be headquartered in Aberdeen, with satellite offices planned for both Glasgow and Edinburgh.
Juergen Maier, GB Energy's start-up chair, previously said the it would initially bring hundreds of jobs to the region.
In total, more than 1,000 jobs could be created in Aberdeen once the company is up and running.
'Headquartered in Aberdeen, Great British Energy will help unlock tremendous opportunities for Scotland, particularly in harnessing our abundant renewable energy resources,' Murray said.
'Scotland is at the heart of our plans to become a clean energy superpower and today is a crucial step forward in boosting investment in green technologies and infrastructure, helping to create thousands of high-quality jobs across Scotland, drive economic growth, helping to lower bills for consumers and ensure energy security for generations to come.'
The state-owned company won't supply power to homes but it will invest in new renewable technology as well as green power projects.
For example, Great British Energy is investing £200m in funding for new rooftop solar power and renewable energy schemes for schools, hospitals and communities – helping them save on their energy bills.
As part of this, GB Energy contributed £4m to Scotland's Community Energy Generation Growth Fund.
Communities across Scotland can now bid for cash to set up renewable energy generation projects after the £8m fund reopened on Wednesday.
'Great British Energy comes from a simple idea: British people should own and benefit from our own natural resources,' UK Energy Secretary Ed Miliband said.
'We are giving people a stake in clean energy and delivering profits for the British people. As part of our Plan for Change, this will make us a clean energy superpower and help bring down energy bills for good.'
The newly formed energy firm hosted a roundtable in Edinburgh on Thursday alongside the Scottish secretary for focus on the supply chain opportunities in Scotland.
The meeting follows Great British Energy's initial £300m funding for offshore wind supply chains, which will support Britain's engineers, technicians, and welders and invest in offshore wind manufacturing components such as floating offshore platforms and cables in the UK's industrial heartlands.
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