The joint public-private funding was confirmed on the first day of London International Shipping Week.
In total, Downing Street has unveiled a package worth £448million to cut emissions from ports and nearshore output. This will go to the UK Shipping Office for Reducing Emissions [SHORE], supporting research and development of new clean maritime technologies such as electric vessels and fuels including ammonia, hydrogen, methanol and wind energy.
Private stakeholders will also make significant contributions to the objective, with £700million to be spent on bringing carbon dioxide production down. The country’s second largest port operator, Peel Ports, has committed £300million in upgrades at Liverpool, Hunterston, and Great Yarmouth.
‘Today’s £1.1billion 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,’ said Transport Secretary Heidi Alexander. ‘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.’
Elsewhere, the North Side development at the Port of Tyne will benefit from £150million, which will create up to 12,000 offshore wind and manufacturing jobs. And NatPower Marine has also announced £250million to be spent on shore side power projects over the next five years, leading to more than 2,000 new roles across engineering, construction and green technology.
‘Peel Ports Group has invested £1.5 billion over the past decade, future-proofing our operations, strengthening vital supply chains and creating hundreds of jobs across the regions where we operate,’ said Claudio Veritiero, CEO, Peel Ports Group.
‘Looking ahead, we plan to invest a further £1 billion over the next 5 years, with projects already underway that include new port-centric warehousing, steel and metals facilities and major upgrades at key ports,’ Veritiero continued. ‘These developments underline our long-term commitment to building capacity and efficiency across our network, while supporting growth and productivity in the wider UK economy.’
Image: Esmonde Yong / Unsplash
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