North East clean energy developer OnPath Energy has pledged to invest £1bn in renewables infrastructure over the next five years.
The Wearside company – formerly Banks Renewables – was acquired for a significant sum in 2023 by Brookfield, a global asset manager with around $1 trillion of assets under management. Following the deal OnPath has been building a portfolio of onshore wind, solar and energy storage projects, and already owns and operates 10 onshore wind farms across Scotland and northern England, with plans to progress the construction of several projects across the 海角视频 this year.
Now the business has unveiled ambitious plans to plough around £1bn into clean energy projects across the 海角视频 over the next five years – a move which would also create hundreds of skilled jobs.
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Richard Dunkley, CEO at OnPath Energy, said: “The new Government has been very firm in its commitment to accelerating the transition to net zero. We will be contributing towards reaching this destination by aiming to invest around one billion pounds in building more of the renewables infrastructure the 海角视频 needs over the next five years, a plan which will in turn create and support hundreds of skilled, sustainable green jobs across the 海角视频, including within the North East.
“Alongside this, we are working to bring communities with us on the energy transition by creating industry-leading commitments on community benefits and community shared ownership. We will achieve this by developing people, giving them the skills required to underpin the sector’s future success, and by operating in genuine partnership with stakeholders and the communities in which we’re working; we describe this as the OnPath Together approach to development.
Dragons’ Den star and North East entrepreneur Sara Davies rescued the business she launched as a university student after its directors placed it into administration. Crafter’s Companion was first launched by Ms Davies when she was at York University, through the launch of one envelope-making product. It has since grown to become one of the biggest businesses of its kind, selling crafting tools and supplies across the 海角视频, Europe and the US through its website and retail stores in Newton Aycliffe, Chesterfield and Evesham.
However, Ms Davies – a regular on crafting shows on TV channels as well as shows including Morning Live – has revealed how the Newton Aycliffe firm has struggled in recent times, to the point where an investment organisation stepped in to help the business last year, ploughing several million pounds into the company.
After Crafter’s Companion was put into administration by its current directors , Ms Davies struck a pre-pack deal to save what she describes as “my third child” - a move which also saves more than 100 jobs.
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She said: "“This means a lot to me. To be going back into the business alongside the fantastic team at Crafter’s Companion is an opportunity I couldn’t pass up. Consumer interest in crafting has never been stronger, and with customers of every age recognising the well-being and mental health benefits of creating beautiful things, I am looking forward to help drive the strategy of the company again.”
Social housing provider Thirteen Group secured a £30m funding deal to help support a major project across its North East portfolio of properties.
The Middlesbrough-based business has agreed the finance package with NatWest, with the funding including a new Housing Green Retrofit Loan (HGRL), which forms part of a larger transaction through which the bank will continue to be a main strategic funding partners, providing a total funding package of £211m.
Thirteen will use the new HGRL funding from NatWest to deliver a programme of retrofit works, which form part of its aim to reduce carbon emissions by 100% by 2050, in line with Government targets.
Andrew McColl, Thirteen’s interim chief finance officer, said: “This additional £30m funding will enable us to accelerate our retrofit programme, benefiting thousands of customers by making their homes more energy efficient. It’s a landmark deal for Thirteen, and one which reflects our reputation as a trusted housing association with a proven track record of investment in our homes and a clear commitment to achieving net zero.
“We look forward to continuing our excellent relationship with NatWest as we deliver these improvements for our customers.”
Tyneside marine equipment specialist Marine Chandlery has snapped up a complementary business in Devon to aid its strategic growth. Marine Chandlery was formed last year when luxury yacht company West Nautical stepped in to buy well-established business Storrar Marine out of liquidation.
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The Newcastle firm acquired the marine and watersports equipment and accessories specialist in June of last year, relaunching it soon after to customers from a new base in North Shields, North Tyneside, under the new name of Marine Chandlery. Now the business has announced the acquisition of Bayside Marine’s assets as part of its strategic growth plan. The agreement for the acquisition was finalised in late November, and the stock transfer has now been completed.
Geoff Moore, owner of Marine Chandlery, said the acquisition of Bayside Marine’s assets marks an exciting milestone in its growth journey.
He added: “Marine Chandlery remains committed to delivering exceptional service and a comprehensive range of marine products. Customers can look forward to continued innovation and growth as the company builds on its strong foundation.”
Financial planning firm Laurus Associates has been acquired in the latest North East deal for international group Azets Wealth Management.
Jesmond-based Laurus was set up in 2002 and secured Chartered Financial Planner status in 2019. The firm was launched by Karen Barwick and Colin Dawson to offer personal and corporate advice on pensions, life assurance and investments.
The multimillion-pound deal, which is expected to complete at the end of this month, will mean a continuation of Laurus' services including specialisms in trust planning, investment portfolios, auto-enrolment, employee benefits advice and pension property purchase.
For Azets, the acquisition follows the multimillion-pound purchase of North East accountancy business Tait Walker in 2022 which expanded its network of offices in the region. That move brought five Tait Walker locations under the control of Azets, which operates from 190 bases in six countries and is said to work with more than 100,000 clients.