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Labour confirms plans to upgrade Britain's port infrastructure to boost UK's offshore renewable prospects through its Green Prosperity Plan
Labour has announced plans to deliver "the most significant upgrade" to Britain's ports in a generation if it wins the next election, confirming it would pump £1.8bn of public funding into the sector in a bid to cement the UK's position as a leading developer in offshore wind technologies.
Keir Starmer today visited a number of ports in the North East, as part of a trip that saw the Labour leader provide more details on plans to ramp up investment in port infrastructure through the Party's Green Prosperity Plan and 'crowd in' billions of pounds more of private sector investment into the renewable energy industry.
The move forms part of its wider plans to end "14 years of industrial decline under the Conservatives and support domestic manufacturing across the country," Labour said.
The Opposition highlighted how UK port bosses have repeatedly raised concerns about the Conservative government's failure to mobilise more investment in infrastructure, which Labour warns could "strangle the capacity to deliver ambitious targets in renewable energy".
Without rapid investment to upgrade UK ports, the country could lose the global race for floating offshore wind, Labour warned.
"A Labour government will reindustrialise Britain, from the biggest investment in our ports in a generation to a British jobs bonus to crowd billions of investment into our industrial heartlands and coastal communities," Starmer said.
Labour faced criticism from green groups earlier this year for diluting its high profile commitment to invest £28bn a year of public money in green projects, but the Party has insisted it remains committed to decarbonising the power system by 2030 and has highlighted how the Green Prosperity Plan is more ambitious than the current governments plans.
The Party said the new ports investment would be funded through "a proper windfall tax" on the oil and gas industry's record profits.
Labour added the plan will also include investments to drive local and economic growth, thereby giving opportunities to essential trade workers such as plumbers, electricians, and welders across the country.
The £1.8bn investment will come from a new fund - the National Wealth Fund - which Labour plans to develop to invest in "green industries of the future".
It explained the National Wealth Fund will act as a new strategic body which will see public money invested to support British businesses, with the long-term goal of ensuring the public benefits from the return these investments produce.
The plans were welcomed by Dan McGrail, chief executive of trade body Renewable UK..
"Labour is right to say that if we want to maximise investment in offshore wind manufacturing and assembly facilities in the UK, the public and private sector are going to have to come together to invest in our ports," he said. "Wind turbines are now the size of skyscrapers. As a result, companies need significant space to manufacture and store their blades, towers, and cables."
He added that at present the UK does not have enough ports large enough for new offshore wind projects, but insisted "this is a challenge we can overcome" with the right investment.
Mark Simmonds, director of policy and external affairs, British Ports Association, said the energy transition presented a "once in a lifetime opportunity" for the UK, adding "it is important that the skills and prosperity that come with the transition are anchored in the UK."
"That, alongside the unprecedented speed and scale of investment needed will necessitate greater public involvement than we have seen in the last few decades," he added. "The ports industry looks forward to working with government in realising our shared offshore wind ambitions."
In response, the government highlighted how it has provided significant funding to support port upgrades and again questioned the feasibility of Labour's target to deliver a net zero power system by 2030.
In related news, the UK's offshore wind sector received a boost yesterday with confirmation from the Department of Energy Security and Net Zero that it has granted development consent to extend the Sheringham Shoal and Dudgeon offshore wind projects off the North Norfolk cost.
The projects have been granted approval to extend the existing offshore wind farms to double their capacity, providing enough renewable energy to power an additional 785,000 UK homes. The decision follows opposition from some conservation groups, which had raised concerns about the potential impact on seabirds. But the government concluded concerns over potential environmental impacts had been adequately addressed and the projects should be allowed to proceed.
