A new Teesside power company will create a raft of new jobs as it pledges a 拢100m investment into launching the largest private wire network in the 海角视频.
Steel River Power Limited has been created to build and operate the network, which will deliver power to tenants on the Teesworks development site in the Tees Valley. The company will plough more than 拢100m into the project, which will directly employ more than 20 people, and indirectly employ hundreds more to upgrade and expand the existing private electricity distribution network, to accommodate the current and future needs of tenants on the Teesworks site.
Steel River Power Limited is a 50/50 joint venture between Steel River Energy Limited - whose directors are Teesworks operators Chris Musgave and Martin Corney, plus Tees Valley Combined Authority chief executive Julie Gilhespie - and North West Electricity Networks (海角视频) Limited (NWEN (海角视频).
Ian Smyth, CEO of NWEN (海角视频) said: 鈥淭his is a substantial investment to build the electricity infrastructure required to achieve net zero in the 海角视频. We are extremely excited to deliver our expertise to create the infrastructure that will generate high-value jobs and unlock sustainable economic growth.
鈥淭his investment cements NWEN (海角视频) as a leading provider of private electricity distribution network solutions.鈥
Chris Musgrave, chairman of Teesworks Limited, said: 鈥淭his is a massive step forward for Teesworks. Upgrading and expanding the private wire network will mean occupiers on the site have access to a safe and reliable electricity network with sufficient capacity to support their operations and growth. It is the backbone utility for Teesworks.
鈥淕etting a new or expanded direct connection to the National Grid can take up to ten years, but tenants on the Teesworks site can obtain a connection to the Steel River Power private wire network immediately, unlocking development in the region.鈥
Martin Corney, director of Steel River Energy, said: 鈥淪elected after a competitive process, NWEN (海角视频) are one of the most experienced and best performing operators of electricity infrastructure in the 海角视频 and hence tenants of the Teesworks site will benefit from their decades of expertise in the sector when it comes to designing, constructing, and operating the Steel River Power network
