Wind and other renewable energy sites, port infrastructure and a skilled workforce were cited as contributing factors.
The North East Energy and Innovation Summit in Newcastle had one key message – the region is primed for new partnerships amid its transformation into a green industry powerhouse.
Held as Lloyds Banking Group announced more than £1 billion in new finance to businesses in the region this year, the event presented convincing evidence of how strong the economies of areas like Tyneside and Humberside are becoming.
‘There is global competition for this. If we don’t take control of the natural resources we have, the fact that on a windy day the North East can power 50% of the UK’s energy supply, if we don’t take control of and harness it to create jobs and bring investment then other countries will,’ said North East Mayor Kim McGuinness.
The Labour politician also warned against the rise of Reform in many regions. Nigel Farage’s party has promised to reverse a ban on new North Sea oil and gas drilling contracts ‘from day one’ if it wins the next general election. Gaining significant ground regionally last year, eyes are now fixed on more local elections this May.
‘There is nothing controversial about this industry whatsoever. We will transition to green energy because we have to, because we will run out of oil,’ McGuinness continued. ‘Reform can say what they want, I want to back the 25,000 people already working in renewables in this region and double that number to 50,000.’
‘This is a once in a generation opportunity and one we need to seize to help shape a brighter, sustainable future for our region,’ she added. The North East can lead the UK’s green energy transition – not only by powering the nation, but by creating thousands of jobs and securing long-term investment for our communities.
Image: Nicholas Doherty / Unsplash
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