£100 million firm launched to power Tees base

A £100 million utilities firm has launched with the promise of powering up a major industrial development.

Steel River Power says it will support occupiers’ connectivity needs on the Teesworks site, near Redcar.

Bosses add it will “build, own and operate the largest private wire network in the UK”, upgrading and expanding an existing private electricity distribution network.

They say the endeavour, a joint venture between Steel River Energy Limited and North West Electricity Networks (UK) Limited, will create more than 20 jobs and support hundreds of supply chain posts. 

Ian Smyth, chief executive of North West Electricity Networks (UK), said: “This is a substantial investment to build the electricity infrastructure required to achieve net-zero in the UK. 

“We are extremely excited to deliver our expertise to create the infrastructure that will generate high-value jobs and unlock sustainable economic growth.”

Martin Corney, director at Steel River Energy, added: “North West Electricity Networks (UK) is one of the most experienced and best performing operators of electricity infrastructure in the UK.

“Teesworks tenants will benefit from its decades of expertise in the sector when it comes to designing, constructing and operating the Steel River Power network.” 

The Teesworks site was previously home to Redcar’s steel industry, which fell silent in October 2015 when operator SSI UK collapsed.

Subsequent renovation works have taken place on the vast expanse, with SeAH Wind now erecting a plant to build monopiles – large steel tubes that form turbine foundations – for offshore developments.  

Earlier this month, Government funding was also confirmed for the Net Zero Teesside carbon capture, utilisation and storage plant.

Described as the world’s first industrial-scale factory of its type, officials say the BP and Equinor-led power station will generate up to 860 megawatts of low-carbon electricity – enough to power up to 1.3 million UK homes – while annually capturing as much as two million tonnes of emissions.

Captured CO2 will be moved by the Northern Endurance Partnership via a pipeline to a permanent storage site under the North Sea.

Building work is planned to begin by the end of this year, with the factory earmarked to start operations in 2027.

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