Government has today announced that HyNet has been given the green light, unlocking the decarbonisation of industry and growth across the North West and North Wales industrial heartlands.
The significant milestone was announced by the Prime Minister, Chancellor and Secretary of State for Net Zero and Energy at Encirc, an international glass production plant and partner of HyNet.
HyNet is a low carbon cluster which will implement carbon capture and storage and low carbon hydrogen infrastructure at large scale, enabling industry to decarbonise.
Delivering HyNet will secure £5 billion of private sector capital to enable re industrialisation of the region, allow companies to successfully compete in international low carbon markets and attract new industries to the UK.
HyNet will position Britain as a world leader in the global net zero economy. The creation of 6,000 construction jobs and long-term operational roles will build a strong base of skills for those wanting to retrain as well as those beginning their career. In addition, the region’s economy will be bolstered by a burgeoning supply chain.
HyNet’s blueprint can be replicated across the globe, enabling widespread decarbonisation of hard to abate sectors and allowing the export of skills.
Subsequent phases of HyNet will underpin delivery of the Governments Clean Power 2030 mission. This will include hydrogen storage to boost energy security and to fuel flexible power generation, providing us with power when the wind doesn’t blow and the sun doesn’t shine.
HyNet will reduce emissions of carbon dioxide (CO2) produced by industry by up to 10 million tonnes every year – the equivalent to removing four million cars from the road.
David Parkin, Chair of the HyNet Alliance said:
“HyNet was formed to meet the demands of industry wanting to decarbonise to deliver sustainable products and compete in the global low carbon economy. We need to decarbonise, not by de-industrialising, but by investing in the industries of the future that we rely on for the everyday products in our lives – from the glass bottles we use for our food and drink to the cement we use to build roads and buildings.
“Government’s commitment to HyNet will also enable generation of resilient low carbon power, right here in the industrial North West and North Wales, supporting its Clean Power 2030 Mission.
“This will create new roles and safeguard existing jobs, attracting investment and catalysing growth.”