GB Energy will be headquartered in Aberdeen.
The UK Government‘s publicly-owned energy company will have its HQ in the north-east but will have smaller offices in other parts of Scotland, according to the BBC. These could include Glasgow and Edinburgh.
Keir Starmer is expected to officially announce the company’s HQ location in the coming weeks.
The company will not supply power to households but will help fund existing and new clean technology. It will also help fund small and medium sized renewable energy projects.
Labour had said that GB Energy would be headquartered in Scotland when it announced its plans to create the company before it came to power.
The creation of the firm was one of the party’s key election pledges.
But its exact location had not been revealed and it was not included in the King’s Speech in July.
Aberdeen is home to much of the UK’s oil and gas industries.
Labour had promised before the election that GB Energy would bring thousands of jobs to Scotland.
It will invest in wind and solar projects, and fund new tech such as floating offshore windfarms, hydrogen and carbon capture.
The UK Government has said it will not issue any new oil and gas licences but will not revoke any which have already been given out.
Just last week it said it will not fight a legal challenge against the Rosebank and Jackdaw oil fields, which are off Shetland and Aberdeen.
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