Lowestoft set to benefit from billions of pounds of energy investment

Over the last two months, a number of major projects that will see the region generate electricity for millions of homes in the UK have been given significant boosts.

In July, Vattenfall's Norfolk Boreas Offshore Wind Farm and ScottishPower Renewables' East Anglia THREE both won their Contracts for Difference (CfD) bids.

Winning these contracts means that they now have government guarantees for a base line price for the electricity generated by the offshore turbines, making the projects more attractive to investors.

Vattenfall said that it is now planning to start construction on its Norfolk Boreas Offshore Wind Farm in the autumn of next year.

When built it is forecasted to generate energy for 1.5m homes and is the first stage of the company's plan to create a Norfolk Offshore Wind Zone which, when competed, is expected to produce enough renewable electricity to power more than 4 million homes.

The Norfolk Boreas Offshore Wind Farm will be located about 50 miles off the coast of Happisburgh in Norfolk and its construction and ongoing maintenance will create thousands of jobs in the region.

Vattenfall has stated that it ideally wants to employ those living within one hour drive to work at the windfarm.

ScottishPower Renewables has already started work on building its East Anglia THREE project that will provide electricity to power 1.4 million homes.

The wind turbines are being built off the Suffolk coast by Bawdsey and is expected to provide about 3,500 jobs at the peak of its construction and deliver around £145m in investment to businesses and supply chains across Norfolk and Suffolk.

One sector that is already benefiting from the growth of the offshore wind industry in East Anglia is the Port of Lowestoft.

Andrew Harston from Associated British Ports (Image: Associated British Ports)

Andrew Harston, a director at Associated British Ports, welcomed the news when Vattengall and ScottishPower Renewables won the contracts.

He revealed that the Port had gained planning permission to construct a Lowestoft Eastern Energy Facility (LEEF) in anticipation of the firms winning the CfD bids.

"This will cost between £25m and £30m and will be a key facilities, including logistics, office storage and fuelling storage to support offshore wind," Mr Harston said.

"Construction will start later this year and it will be operational in 2024."

He added that it is expected that the new facility will create hundreds of jobs in the Lowestoft and surrounding areas.

Mr Harston also welcomed the Vattenfall and ScottishPower Renewables windfarms as they will create "thousands of jobs during their construction and hundreds of jobs ongoing".

"The two projects are four times the size of existing East Anglia ONE project which cost £2.5bn to develop," he added.

"These new projects will see many billions of pounds invested just off the Norfolk coast."

Along with the offshore windfarms, Lowestoft will also benefit from the a new nuclear power plant in Suffolk - Sizewell C.

The site, which is expected to cost £20bn, was given the green light in July.

At about an hours drive from Lowestoft, locals have the opportunity to benefit from the thousands of jobs that will be created during its construction.

Locals also have the ability to utilise on the wider supply chain that will needed to help build and run the site once it is completed.

C-J Green, chair of New Anglia Local Enterprise Partnership (LEP), said: “This nuclear power station will generate sufficient low carbon electricity for six million homes and create thousands of jobs - including 1,500 apprenticeships.

"Our well-established and world-leading supply chain meanwhile makes the region perfectly positioned to take full advantage of this massive project, which will contribute to a higher performing, clean and inclusive economy.

“This is an important step forward and we will work with partners to ensure the project delivers maximum economic opportunities for the area.”