Taskforce targets North East green jobs boom

A new regional taskforce is aiming to accelerate the North East’s clean energy ambitions, unlock billions of pounds of investment and create thousands of green jobs.

Lloyds Banking Group has joined forces with North East mayor Kim McGuinness, Government bodies and regional infrastructure partners to launch the North East Ports Investment Taskforce.

Announced at the UKREiiF conference in Leeds, the initiative will focus on accelerating investment into ports, quayside facilities and infrastructure needed to support offshore wind development across the region.

Partners involved in the taskforce include the North East Mayoral Strategic Authority, the Office for Investment (OfI), National Wealth Fund, The Crown Estate, Port of Blyth, Port of Tyne, Port of Sunderland, Newcastle International Airport and Shepherd Offshore Ltd.

The project is designed to support the mayor’s £140 million Green Jobs Plan, which aims to create 25,000 green energy jobs by 2035.

Mayor McGuinness said: “At a time when energy demands are high and energy security is at the front of our minds, North East England is ready for a green jobs boom – with companies set to invest billions creating more jobs, more offshore wind investment and ultimately more opportunities for our people and businesses. 

“We aim to see 25,000 new jobs created by 2035 because we know the potential for growth is huge so now is the time to grasp this opportunity with both hands. 

“There will be something like 460 new turbines going up just off our coast and banks and energy firms want to invest billions in North East England’s ports and supply chains across the North East which means new jobs that will last for local people.”

The North East has already established itself as a key hub for offshore and subsea manufacturing, with significant investment flowing into port infrastructure and renewable energy facilities over recent years.

Further momentum came earlier this year when The Crown Estate announced plans to open up around six gigawatts of offshore wind capacity off the North East coast. 

The leasing round, expected to begin next year, could support up to 10,000 jobs nationally and deliver more than £12 billion to the UK economy.

Dan Labbad, chief executive of The Crown Estate, added: “Over the last 25 years, offshore wind has become one of the UK’s great industrial success stories. 

“The next chapter must be about ensuring that success offshore creates lasting value for the communities and businesses closest to it. 

“The North East, Humber and wider east coast are central to that opportunity.

“We welcome the focus Lloyds Banking Group and the North East Mayoral Strategic Authority are bringing to accelerating infrastructure investment in support of Round 6, and look forward to working through the task group with the UK Government, public finance institutions, combined authorities, ports and other partners to build a coordinated investment proposition that can unlock jobs, supply chain growth and long-term economic value across the east coast.”

The latest announcement builds on an existing partnership between Lloyds Banking Group, the North East mayor and the OfI, which earlier this year hosted an energy and innovation summit attracting more than 300 business, finance and Government leaders.

Lloyds also announced plans to make £1 billion of finance available to North East businesses in 2026 as part of wider ambitions to support the UK’s green transition.

Charlie Nunn, group chief executive of Lloyds Banking Group, added: “The energy coast in the North East of England is a strategic national asset – powering tomorrow’s industries and the UK’s clean energy future.

“As one of the UK’s leading banks for infrastructure and project finance, we’re working closely with the North East MSA and OfI to enable greater innovation, job creation and sustainable growth. 

“The new North East Ports Investment Taskforce will bring together private and public partners to accelerate investment into critical infrastructure, and we’re proud to be part of it.”

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