Juergen Maier said the state-owned energy firm would not begin making investments until next year.
Juergen Maier said it would be 'well in to next year' before GB Energy began making investmentsJuergen Maier, who was appointed chairman in June, told a House of Commons select committee that a workforce plan had not yet been created but his estimate was there would be 200-300 roles in the city.
He said there was "a lot of opportunity" to take people from the oil and gas sector for the state-owned energy company, which was a flagship policy during the Labour government's general election campaign.Mr Maier said that the focus of investments would be technologies like floating offshore wind, tidal power and large scale energy storage but the investments would be "unapologetically long term".
Mr Maier told MPs that in his first few months in the role he had "managed to reassure the private sector" that it is not going to compete with them and that he was "very confident" it will be able to create "a lot more" private investment He said the plan is to buy "minority stakes" in renewable energy projects but that as a "commercially savvy, innovative company" he will be looking for revenue streams.He added that the model for setting up GB Energy was being based on state owned companies like Vattenfall in Sweden and Denmark's Ørsted, both of which have operations in the UK.
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