Port of Tyne to invest £150m into Tyne Clean Energy Park
The 230-acre development will add 400 metres of deep-water quayside to support offshore renewables and advanced manufacturing.
This will create up to 12,000 jobs and add £5,6bn to the economy, as well as adding to the North East’s ambitions to be at the forefront of the UK’s green energy efforts.
Backed by the secretary of state for transport Heidi Alexander and North East Mayor Kim McGuinness, the scheme will be located along the north and south banks of the Port of Tyne.
WSP has led on the planning for the project, which will include a kilometre of new and redeveloped deep-water, heavy lift quay for the use of the site, which will be located within an Industrial Strategy Zone.
This provides similar benefits to freeports, such as business rates relief, enhanced capital allowances, stamp duty land tax relief, and employer national insurance contributions.
Matt Beeton, chief executive at the Port of Tyne, said: “Accelerating offshore wind, renewable energy and advanced manufacturing is a national priority and requires decisive action.
“Boosted by Industrial Strategy Zone status that provides similar benefits to a modern freeport, our expanded Tyne Clean Energy Park is uniquely positioned to support this UK-wide initiative.
“Located close to emerging North Sea wind arrays, this nationally strategic site offers deep-water access and a major development footprint to enable the creation of world-class infrastructure to support a growing supply chain offering.
“Phase one, Howdon Quay, with a 23,024 square foot warehouse and a dedicated berth is already complete and ready for business following a £6m redevelopment.
“Working with the Mayor, North East Combined Authority and UK Government, we’re ready to deliver a strategy that unlocks the region’s enormous potential and attracts global investment.”
North East Mayor, Kim McGuinness, said of the project: “The potential for the site is huge. It could generate thousands of clean energy jobs, which will benefit the region in the long-term and further establish a real hub for renewables and offshore sectors on the bank of the Tyne. I look forward to seeing how the project progresses.”
Transport secretary Heidi Alexander said: “Today’s boost for the maritime industry will supercharge growth and jobs in our coastal towns and cities — making the UK one of the best places in the world to invest.
“We’re committing almost half a billion to cut carbon emissions from shipping – steering us towards net zero by 2050 and cementing Britain’s place as a clean energy superpower through our Plan for Change.”
