An agreement has been reached on Government financial support for JDR Cable Systems' forthcoming £130m subsea cable manufacturing facility at the Energy Central site in Cambois.
The North East firm will receive support through the Government's Offshore Wind Manufacturing Scheme, meaning it can start construction this summer before the facility is due to be opened in 2024.
JDR has secured a £130m 海角视频 Export Finance Export Development Guarantee that will help it create 171 jobs and safeguarding 270 jobs at the firm's existing bases at Hartlepool and in Cambridgeshire.
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Business and Energy Secretary Kwasi Kwarteng said: “Our offshore wind sector is a major industrial success story that delivers cheaper energy for consumers and high-quality manufacturing jobs across the 海角视频. Investments such as this from JDR, with government backing, are exactly the kind which our British Energy Security Strategy will attract, while reducing our exposure to volatile global gas prices.”
The new facility is part of a plan for JDR to expand its product portfolio, adding high voltage export and long length array cables.
Tomasz Nowak, chief executive officer at JDR, said: “Since our initial announcement in September last year, the 海角视频 has redoubled its commitment to net zero having hosted COP 26 and reaffirmed the importance of building out the country’s renewable infrastructure and supply chain in light of the current gas and energy crises. Now more than ever it’s critical to push forward with the 海角视频’s offshore energy ambitions and we are delighted to take this major step forward in delivering the new site at Blyth."
Minister for Investment Gerry Grimstone said: "JDR's investment in Blyth shows how attractive the 海角视频's renewable energy sector is, supporting jobs, growing the economy and levelling up the 海角视频. Through our ambitious Energy Security Strategy this government is helping reduce our reliance on oil and gas, and bringing more clean, green power to the nation.”
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Jeff Watson, chair of Advance Northumberland, said: "This is a fantastic milestone for JDR Cable Systems investment into Northumberland. The new state of the art subsea cable production facility will lead to the creation of over 170 new green jobs in the County, solidify our status as a leading investment location in the 海角视频 for renewable energy as well directly contribute to the Governments net zero agenda."
JDR will also invest £3m into its Hartlepool base to install a new vertical layup machine.
James Young, chief strategy officer at JDR said: “The energy transition will only accelerate, meaning more power from larger turbines, installed farther offshore and with higher voltage subsea cables to connect them. The North East of England is the ideal base from which to serve the largest offshore renewable energy market in Europe, and we’re delighted to be able to announce these major investments in both Blyth and our existing facility at Hartlepool.”