East Anglia is set to benefit from £80 billion of investment in its major energy projects.
The EIC's Director of Market Intelligence, Neil Golding, was present at the Southern North Sea conference (SNS2024), last month, to discuss the East of England's energy sector alongside with industry supply chain stakeholders, academia and government. On his panel, Golding discussed businesses in the region.
The Eastern Daily press wrote the following news report based on Neil Golding's contribution to the SNS2024 event.
"Of the £800bn being pumped into UK energy schemes, 10pc will be spent in the East.
Neil Golding said it will be a boost for businesses in the region.
“There are sizable projects in the region and there will be significant pulls on the supplychain and the need to scale up,” he said.
“We could see more than £800bn spent on all of the energy projects across the UK if all ofthe projects announced proceed.
“East Anglia is not insignificant, with 10pc of the capital expenditure if everything goesahead.”
He said offshore wind will account for a third of the £800bn UK energy spend, followed bynuclear.
Some of the world’s largest offshore wind projects are located off the coast of Norfolk andSuffolk in the southern North Sea.
However, Mark Wilson, of Offshore Energies UK (OEUK), told the East of England Energy Group (EEEGR) Southern North Sea conference (SNS2024) that £100bn is needed to bespent on the National Grid to carry the power to where it is needed.
“We need to be action-focused with a faster pace of change,” he said, speaking at the annualconference at the Norfolk Showground last month.
“We want to see more energy projects developed here, serviced by supply chain companiesbased in the UK.
“The multi-billion domestic investment was a huge opportunity. It will help companiescompete for the £1 trillion global market.
“We want to see a sign above the door that says clearly ‘the UK is open for business’, withunderstanding from the government that the UK is in competition against other countries for investment.
“We can’t stand still. The supply chain is the golden thread that runs through the energy transition.”"
Read the original article: Here