LAW
Womble Bond Dickinson corporate lawyer David Ridley , who has a keen interest in supporting companies within the energy industry , reflects on the Tees region ’ s opportunities within this key sector …
Teesside is ready for the energy sector boom – and so are we
The prime minster recently set out
his ambitious 10-point plan for the UK ’ s green industrial revolution . The plan is designed to support the longstanding “ levelling up ” ambitions , with £ 12bn of government investment being announced to create and support skilled green jobs .
The North-East and Teesside has a huge role to play in supporting this revolution which , if capitalised upon properly , could be key to ensuring that the region and the rest of the UK bounces back from the economic impact of the Covid-19 pandemic .
The PM ’ s announcement shows signs that the government is recognising the continued potential of the region ’ s role in the energy sector , including plans to help fund four carbon capture and storage ( CCS ) hubs across the UK – with one such hub being based in Teesside .
This is a welcome boost , particularly for Net Zero Teesside , the region ’ s existing project aiming to decarbonise carbonintensive businesses .
The announced CCS hub is an exciting opportunity for the local supply chain and we at Womble Bond Dickinson are passionate about playing our role . We are already helping clients on various issues in connection with Net Zero Teesside , drawing on our experience of supporting CCS projects across the country .
There are many other reasons why the North-East stands in good stead to become a hub for the projected green energy revolution . As you will know already if you are a regular reader of this publication , Teesside is set to be the location for the UK ’ s first hydrogen transport centre , resulting in the development and testing of new hydrogen technologies .
In addition , Teesside University has announced that it will form two innovation centres : one focused on the development of cost effective , low-carbon technologies ( the Industrial Decarbonisation and Hydrogen Innovation Centre ) and the other on the advancement of technology to reduce reliance on finite resources and eliminate waste ( the Circular Economy and Recycling Innovation Centre ).
And let ’ s not forget the continued importance of offshore wind energy and the strength of the region ’ s ports , which are essential if the UK is to build enough infrastructure to meet its new target of powering every home with wind energy by 2030 . In September , it was announced that Able Seaton Port in Hartlepool would act as a base for the development of turbines that will be used in the world ’ s largest offshore wind farm .
Womble Bond Dickinson has already been involved in 24 UK offshore wind projects and we are seeing a marked rise in interest in this technology , which has matured quickly as costs have fallen . The Round 4 offshore wind leasing process is creating a particular spike of interest at the moment and we are helping clients from the North-East and beyond to make the most of these opportunities .
While all of these developments are
PICTURE : DAVE ALLAN
exciting , Teesside ’ s energy businesses will need the right help in order to thrive in the UK ’ s projected energy sector boom . Certainly businesses can benefit from government funding and also potentially tap into funding from sources such as the Cleantech Offshore Renewables Accelerator – established to accelerate SME cleantech solutions across the North- East .
Various bodies in the region offer other types of support . Energi Coast , the North- East ’ s offshore wind cluster , recently launched a group aiming to develop and support regional businesses with services designed to meet requirements for new technology .
Womble Bond Dickinson is prepared to provide its own support as the UK aims to become a world leader in green technology . Our specialist energy team has been immersed in the sector for decades , dating right back to the first commercial wind farm in the UK , Delabole , in 1991 . With more than 60 specialist energy lawyers , we have local , national and international reach and experience of all renewable energy technologies from projects right across the UK and on both sides of the Atlantic . Additionally , our Teesside and Newcastle offices make us ideally placed to support the growth of this key sector in Teesside .
To find out how Womble Bond Dickinson ’ s legal team can assist your business , please contact David on 0345 415 0000 or email david . ridley @ wbd-uk . com .
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