However, BBC Scotland has reported the UK Government-backed firm had been confirmed for an Aberdeen base.
The UK Government’s GB Energy plans would not supply energy to homes but would fund new and existing clean technologies.
A statement from the UK Government said: “We do not comment on speculation. Decisions on Great British Energy’s location will be announced in due course.”
While yet to be confirmed, senior politicians have welcomed the reports.
SNP Westminster leader Stephen Flynn said: “Nobody sensible was seriously suggesting that a new energy body should be based outwith Aberdeen so to have this belated certainty is helpful.
“Now we need to try and understand what this new energy body will actually do, and how it will benefit the people of Scotland given the scale of our resources.
“In that context, it’s only reasonable to expect any wealth created from Scotland’s resources to flow directly back to our communities.
“And, ultimately, it’s important to be clear that this body being in Aberdeen is no mitigation to the damage that is likely to be caused to investment and jobs in our existing energy sector by Labour’s recently implemented tax regime.”