The Partnership ÂÌñ»»ÆÞ“ which includes representatives from the ÂÌñ»»ÆÞ ÂÌñ»»ÆÞ“ is calling for Government to deliver a multi-port solution that would unlock major investment opportunities, harness the full economic potential of the regionÂÌñ»»ÆÞ™s ports, and support UK priorities in the forthcoming Industrial Strategy.
The Partnership has published a Multi-Port Statement, delivered by Celtic Sea Power in collaboration with the regionÂÌñ»»ÆÞ™s ports, which sets out how a coordinated, multi-port investment solution across the South West and South Wales could unlock the UKÂÌñ»»ÆÞ™s £47 billion floating offshore wind (FLOW) opportunity.
This multi-billion pound opportunity is currently being held back by complex barriers to port growth, from infrastructure, planning, and regulations, to improving the conditions for investment into large-scale renewable projects.
The proposed solution demonstrates the unique capabilities of individual ports, how the benefits of collaboration can be harnessed, and why this is critical to the UKÂÌñ»»ÆÞ™s economic growth, energy security, and defence resilience, in parallel to meeting the anticipated surge in FLOW deployment over the coming decades.
The benefits of the multi-port approach will also be critical to providing confidence to investors in backing the South West as a strategic industrial hub.
The Statement also sets out what the region needs from the forthcoming National Wealth Fund: targeted co-investment in shared infrastructure such as grid upgrades, transport links and logistics facilities, to unlock private capital and accelerate industrial development across the South WestÂÌñ»»ÆÞ™s port network.
Professor Dame Judith Petts DBE
