Oral Answers to Questions

Lorraine Beavers Excerpts

Tuesday 17th December 2024 Commons Chamber

[Jayne Kirkham (Truro and Falmouth) (Lab/Co-op)]

9. What discussions he has had with Cabinet colleagues on potential opportunities for industry under the national wealth fund.

[Lorraine Beavers (Blackpool North and Fleetwood) (Lab)]

10. What discussions he has had with Cabinet colleagues on potential opportunities for industry under the national wealth fund.

[Euan Stainbank (Falkirk) (Lab)]

19. What discussions he has had with Cabinet colleagues on potential opportunities for industry under the national wealth fund.

--- Later in debate ---

[Sarah Jones]

My hon. Friend is a great champion for her area, and we have talked about the opportunities of Falmouth and the surrounding areas previously, and I am sure we will do so again. For too long, our coastal areas have lacked the jobs and opportunities they deserve, and we are determined to change that. Through the national wealth fund we will invest in our ports, and Great British Energy will look to crowd in private sector funding to emerging technologies such as floating offshore wind. We are developing our strategies and working as fast as we can.

[Lorraine Beavers]

I welcome the Government’s publication of the “Clean Power 2030 Action Plan” last week. It will mark a transformative shift towards clean energy that will bring good jobs and industry to the whole country. The plan proposes the use of the national wealth fund to explore nascent renewable generation projects. The Minister will know of the potential for tidal range on the west coast. What steps is the Department taking to explore that potential? Will she meet me to discuss the potential for tidal range projects in my constituency?

[Sarah Jones]

I would love to hear more, as I am sure would the Minister for Energy, my hon. Friend the Member for Rutherglen (Michael Shanks). We are committed to all forms of renewable energy if they are economical, which is why we ringfenced tidal in the latest contracts for difference auction, which resulted in six tidal projects being successful, securing up to 28 MW. We continue to look at what more we can do to support this more nascent technology, including the role that GB Energy can play in the future.