Loan secured for £750m Wakefield power station

Loan secured for £750m Wakefield power station

 

The funding was provided by Leeds City Region LEP to start the remediation and enabling works for £750m power station that will be built and operated by Irish energy company, ESB.

 

The first phase of development for the creation of a £750m Combined Cycle Gas Turbine (CCGT) power station on a 50-acre plot with a capacity to power up to two million homes and generate many engineering jobs.

 

The ‘Special Policy Designation’for the scheme was granted in September 2012. Due the document’s flexible nature as regards to the site’s utilisation, included an Energy Centre in the scheme’s masterplan as well as additional long-term plans for employment and residential uses.

 

The Irish based international energy company ESB was selected to develop the new power station. St Paul’s Developments has already completed the demolition and decommissioning of the 25-acre section of the Knottingley site, which has been previously used for industrial production of chemicals.

 

The new development is subject to the successful outcome of the planning application, which will be determined by the Secretary of State for Energy and Climate Change by April 2015.

 

The scheme is estimated to deliver around 1000 construction jobs with permanent positions upon completion.

 

Dennis Enuson, Development Manager at St Paul’s Developments, said: “We are delighted to have secured the funding from the Growing Places Fund to enable us to further prepare the site for the power station project which would represent a significant investment into the Leeds City Region. Our long-term vision is to bring the redundant site back to life by creating a mix of uses, which can happily co-exist on such an extensive site.  The Special Policy Designation will enable us to maximise the potential of the site and due to its scale, we can create a sustainable environment in a high quality landscaped setting.”

 

Roger Marsh Chair of the Leeds City Region Enterprise Partnership said: “This project represents an ideal use of our Growing Places Fund and we are pleased to support the regeneration of this brownfield site.  In the longer term, the benefits that this work will bring to the city region are significant, including substantial inward investment, the creation of both short and long term jobs, new opportunities for businesses and newly built homes.”

 

Photo Source: The Construction Index

 

Sources:

www.theconstructionindex.co.uk

www.costar.co.uk

www.constructionenquirer.com

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