The headquarters for a new UK government-backed energy company will be in Aberdeen, BBC Scotland understands.
GB Energy will not supply power to homes, but will help fund new and existing clean technology, as well as small and medium-sized renewable energy projects.
It is also planned for the body to have smaller satellite offices in other parts of Scotland – possibly including Glasgow and Edinburgh.
Prime Minister Sir Keir Starmer is expected to officially announce the firm’s official home in the coming weeks.
Aberdeen is already home to swathes of the UK’s oil and gas and offshore wind industries.
GB Energy was one of Labour’s key election pledges and was always planned to be based in Scotland.
However, the exact location was not initially known and was not included in the King’s Speech at the start of Sir Keir’s government.
Labour had previously promised the plan would bring “a huge number” of skilled jobs to the country.
Under its remit, GB Energy would invest in wind and solar projects, as well as newer technologies including floating offshore windfarms, hydrogen and carbon capture and energy storage.
During the election campaign, Labour was forced to clarify that GB Energy would generate power in its own right, but would not be a retailer.
It would be funded through an extended windfall tax on oil and gas firms, which Labour claimed would raise about £8.3bn over the next five years.
The party has said previously it would not issue new oil and gas licences, but also said it would not overturn existing permits.
The Scottish government had previously pledged to establish a publicly-owned, non-profit company to sell gas and electricity by 2021, although that was later scrapped.
First Minister John Swinney said the firm would be a “bodyblow” to the Scottish economy, arguing it would not bring bills down for households and risk reducing employment in the north east of Scotland.
However, his deputy Kate Forbes said the Scottish government would “work constructively” with their UK counterparts if and when they had more details on how it would operate.
The Scottish Conservatives also voiced concerns over the impact on jobs, accusing Labour of “wanting to turn off the North Sea”.