Offshore Industry News

Peel Ports Could See $39 Million Wind Expansion

Peel Ports' Great Yarmouth Port in the UK could possibly get $39 million for a new expansion project that could cater to the offshore wind industry, according to the Great Yarmouth Mercury.

The current expansion plan is at the feasibility stage, with simulations underway and expressions of interest being collected from developers.

Already, the port has established itself as a center of excellence in the renewable and offshore energy sectors, with deep sea facilities in the outer harbor for offshore vessels and established facilities for offshore operations in the river port.

Great Yarmouth Port plans to offer the offshore wind industry shared use of its expanded facilities for importing wind farm components, potentially for projects like the East Anglia One and Dudgen wind farms.

Facilities may include office and warehouse space, for potential use as an offshore energy operations and maintenance (O&M) base or training center.

A new quay wall and land creation will be among the facilities financed from the estimated total cost of around $39 million, of which the Great Yarmouth Port plans to pay around $19-26 million.

Already £100,000 has been spent on engineering and navigation assessments.

The development at Peel Ports Great Yarmouth would provide 350 meters of extra berthing space and around 100,000 square meters of additional land.

More than $132,431 has already been spent on navigation and engineering assessments.

Great Yarmouth Port director Richard Goffin said, “Subject to the government keeping to its word on climate change and electrifying the country rather than being reliant on overseas gas, we are confident that the wind farms we are targeting will go ahead. There is a lot of confidence in the sector at the moment. Offshore wind is now cheaper than nuclear and about the same price as gas, according to the last Contract for Difference.”

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