While the East of England energy industry is poised for a massive portion of the £50bn capital investment over the coming decades, there are signs that the region’s businesses are already spending a small fortune to ensure they are properly prepared to fight for a slice of the cake.
“There’s clearly tremendous confidence and professional enthusiasm from our local supply chain,” said James Gray, inward investment director for the East of England Energy Zone.
“Yes, we are looking to the multi-million global companies for the major offshore developments and to keep the gas pipelines flowing but our businesses are not sitting back and waiting; they are investing money to put their name in the frame for some major contracts.”
Mr Gray is further encouraged by increasing Government support for the region with Great Yarmouth and Lowestoft included in the final Assisted Area Status (AAS) map.
And last week the energy coast received further recognition with news that Beacon Park, part of the Great Yarmouth & Lowestoft (New Anglia) Enterprise Zone, will receive £3 million of Government infrastructure funding.
It will help Great Yarmouth Borough Council, owner and developer of the business park, complete infrastructure to open up the whole site for development and will lever in further investment to a total of £7.3m which will see seven new industrial and office buildings constructed.
Mr Gray welcomed the news and said the enterprise zone concept was really working.
“It gives us a clear message to take across the UK and Europe about the range of assets and expertise the EEEZ can offer the energy industry,” he said.
“What has been really helpful is the Chancellor’s decision in the Budget to extend enterprise zone status until 2018.
“It’s really over the next two of three years that we will see a lot of movement in the offshore wind industry. When you look at the market, the really big stuff is going to come in the next 24 months or so.”
But he said it was vital for the Government to continue its support by insisting on a high level of UK content for all the energy projects planned for the East of England.
Recent reports showed how the local groundwork was being done for the expected business surge:
And there is a growing focus on creating the skills needed for the influx of energy business. Launched last month was a new skills centre to become the focal point for world-class energy skills training in the East of England is to be launched in the Great Yarmouth borough in July.
The EPISCentre project will start initially from the Minerva House building near the home of EEEEGR, the East of England Energy Group, at Beacon Park, Gorleston.