Tees Valley Mayor Ben Houchen and Teesworks have welcomed the
announcement that the ground-breaking Net Zero Teesside Power and
Northern Endurance Partnership projects are to move into the next
phase of development.
Net Zero Teesside Power, which aims to be the world's first
gas-fired power station with carbon capture and storage, will be
built in parallel with the Northern Endurance Partnerships
transportation and storage infrastructure. The confirmed
contracts have a combined value of around £4bn - further
enhancing Teesside's reputation as the “Silicon Valley of Net
Zero”.
Project partners – bp, Equinor and TotalEnergies - today
announced financial close and entry into the execution phase for
the highly anticipated project, creating and supporting 4,000
well-paid, highly skilled local jobs.
The decision paves the way for construction to commence from
mid-2025, with start-up expected in 2028.
Net Zero Teesside Power will be located at Teesworks. The latest
announcement follows the successful completion of land
remediation in the past year to prepare the site for
construction.
Tees Valley Mayor Ben Houchen said: “This is yet another landmark
moment in the development of a world-leading development right
here in Teesside.
“This transformational project that will deliver thousands of
high-quality jobs for years to come and deliver incredible
opportunities for our local workforce, especially our young
people.
“We have set an example on how working with the private sector
can bring massive benefits by moving quickly, delivering hugely
complex projects and attracting investment on a scale not seen on
Teesside since ICI.
“This decision means spades will soon be in the ground and people
will be able to see for themselves how our area is being
transformed.”
Net Zero Teesside Power is set to support and create 3,000
construction jobs and 1,000 permanent jobs once the plant is
operational. It is expected to add up to £300million to the
economy per year.
The proposed power station will generate up to 742 megawatts of
low carbon electricity – equivalent to the average annual
electricity requirements of more than 1 million UK homes.
Up to two million tonnes of CO2 emissions from the power station
will be captured each year – emissions which would otherwise be
released into the atmosphere.
The captured CO2 will then be transported by the Northern
Endurance Partnership (NEP) by pipeline to a geological storage
site under the North Sea, where it will be permanently and safely
stored.
Northern Endurance Partnership has also today announced financial
close on its CO2 transportation and storage infrastructure
supporting three carbon capture projects on Teesside.
The latest announcements come after confirmation of government
support for the project in October.
Teesworks Chairman Chris Musgrave OBE said: “The movements into
the next phase of development for these projects are a clear
demonstration of the positive impact Teesworks is having on the
local economy by delivering huge investment and thousands of
jobs.
“Teesworks has successfully completed the remediation of land for
Net Zero Teesside Power which allows partners to move quickly and
begin construction of a world-leading project in 2025.”
It follows years of tireless work by Tees Valley Mayor Ben
Houchen in championing the transformation of Teesside into a
global leader for green energy.
Since taking office in 2017, Mayor Houchen has led efforts to
attract substantial public and private investment to the region,
laying the groundwork for a future defined by clean industries
and sustainable development.
Net Zero Teesside is the latest milestone in a long-term strategy
to revitalise the region's economy and create thousands of
high-quality jobs for local people.
Over the next decade, projects on Teesworks will generate a
significant boost in local revenues, with income from business
rates expected to increase by £79m annually once large-scale
projects become fully operational.
Teesside is now at the forefront of clean energy, boasting
projects including dynamic battery storage, sustainable aviation
fuels, and hydrogen fuel production.
