UK Urged to Adopt Multi-port Strategy for Economy Boost
The Great South West Partnership – which includes representatives from the University of Plymouth – is calling for Government to deliver a multi-port solution that would unlock major investment opportunities, harness the full economic potential of the region’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 region’s ports, which sets out how a coordinated, multi-port investment solution across the South West and South Wales could unlock the UK’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 UK’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 West’s port network.
https://www.plymouth.ac.uk/news/uk-government-needs-multi-port-solution-to-maximise-benefits-to-the-nation-s-economy