Cheshire and Warrington’s local authorities and business leaders have today welcomed a government green light for the HyNet green project.
The government today confirmed Cheshire-based HyNet will share £22bn of funding with a similar project in the North East of England – Net Zero Teesside.
The multi-billion HyNet hydrogen production hub will be built at the Stanlow oil refinery in Ellesmere Port, Cheshire.
The government in today’s announcement confirmed £21.7 billion of funding will be made available, over 25 years, to make the UK “an early leader in two growing global sectors, CCUS and hydrogen”. Confirming the investment today the government said the two projects will sustain important British industry, and help remove over 8.5 million tonnes of carbon emissions each year – the equivalent of taking around 4 million cars off the road. The government said the projects will see “billions of private investment into communities” of the two sites. Prime Minister Sir Keir Starmer; Chancellor Rachel Reeves and Energy Secretary, Ed Miliband are due to formally announce the programme at Encirc, the glass plant at Ince, Cheshire later today.
The funding confirmation has been enthusiastically welcomed by the region’s local authorities and business representatives who said the HyNet investment will enhance the region’s collective efforts to make Cheshire and Warrington the healthiest, most sustainable, inclusive and growing economy in the UK.
The investment was also heralded as an important part of a North West Net Zero Industrial Cluster plan, which centres around a £30bn pipeline of clean energy projects to unlock billions in investment and remove over 40 million tonnes of carbon from the atmosphere every year, as well as creating and safeguarding thousands of jobs. Chair of Cheshire and Warrington’s sub regional leaders board Cllr Louise Gittins said: “I am delighted to welcome the Government’s announcement. This is excellent news for Cheshire and Warrington bringing £5½ billion of investment and 6000 new jobs to the area. The three local authorities are committed to making Cheshire and Warrington the healthiest, most sustainable, inclusive and growing economy in the UK and this investment is a further substantial step towards that vision. It is also the key first part in our even more ambitious £30 billion plan that will make the North West and North Wales the home of the UK and the world’s first net zero carbon industrial cluster by 2040.”
And Steve Purdham, chair of the Business Advisory Board which provides strategic advice to the region’s three councils said: “HyNet is a game-changer for Cheshire and Warrington, the North West and North Wales, marking a new era of economic opportunity, technological leadership, and environmental progress. This monumental investment will inject billions into our region, create thousands of jobs, and firmly place us at the forefront of the global green industrial revolution. It’s a powerful signal that Cheshire and Warrington are open for business, innovation, and sustainable growth. With the removal of millions of tonnes of carbon this will also pave the way to a prosperous, low-carbon future for generations to come.”
HyNet say the project will reduce emissions of carbon dioxide (CO2) produced by industry by up to 10 million tonnes every year – the equivalent to removing four million cars from the road.
And officials said the investment will allow it to position Britain “as a world leader in the global net zero economy” as well as creating 6,000 construction jobs and long-term operational roles.
David Parkin, Chair of the HyNet Alliance said the investment “will create new roles and safeguard existing jobs, attracting investment and catalysing growth.”
Picture & story courtesy of https://businessmondays.co.uk/
