The UK now has a state-owned clean-energy champion. Can it succeed?

When the UK handed the Labour party a parliamentary majority last July, it promised to build a new state owned energy company called Great British Energy. It's almost exactly one year since its creation, and GB Energy now has a budget of £5.8 billion to get the organization off the ground. It sounds like a lot of money, but is it? And what exactly will the organization do with all of it? On Zero this week, Akshat Rathi spoke to Dan McGrail, interim CEO of GB Energy, to find out the answers. Explore further: Watch the video of this conversation Great British Energy website UK’s New State Energy Company Will Spend £1 Billion on Grants - Bloomberg UK to Spend £300 Million to Draw Offshore Wind Supply Chain Zero is a production of Bloomberg Green. Our producer is Oscar Boyd. Special thanks to: Jess Beck, Eleanor Harrison-Dengate, Sommer Saadi, Mohsis Andam and Siobhan Wagner. Thoughts or suggestions? Email us at [email protected]. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.See omnystudio.com/listener for privacy information.