The UK is one of our most important stakeholders for GE Vernova. That is why it was an honour to accept the invitation to attend the Global Investment Summit 2023 hosted by Prime Minister Rishi Sunak and King Charles III in London this week, alongside other business leaders.
We have deep roots in the UK: over 100 years of history, 2,500 colleagues, and our equipment helps generate one third of the country’s #electricity. And we’re proud to be at the cutting edge of new #technology deployment:
-installing turbines for the world’s largest #OffshoreWind farm at Dogger Bank;
-running the country’s only large-scale grid manufacturing facilities in Stafford, producing #HVDC equipment and transformers, which are essential for modernising the #grid;
-engaging on bp’s Net Zero Teesside Carbon Capture and Storage (#CCS) power plant; and
-selected by the Government to submit a bid to build the UK’s first small nuclear modular reactors (#SMR).
The UK political consensus around the #EnergyTransition gives us confidence that the country will continue to demonstrate oversized leadership. The policy framework, developed over two decades by several governments, is rightly based on supporting a diverse range of technologies. #Decarbonisation of the power sector by 2035 will be very challenging, but achievable if there is a laser-like focus on delivery at pace. The message from business was clear: give us a stable and consistent policy environment and we will deliver.
In his opening speech, the Prime Minister noted that ‘the UK is a modern, dynamic, thriving economy. And where better to prove those futuristic credentials, than a 500-year-old Palace?’. We all laughed. But that combination of history and futurism is entirely fitting when considering the #EnergyTransition. The #UK, along with many other industrialized countries, is now on a truly historic mission to decarbonise its power sector over the next 12 years. At #GEVernova, with our history of helping to build the UK’s #power system and now revolutionise it with new technologies, we are ready to play our part.
#FutureOfEnergy #Decarbonization #NetZero #GIS23