Public-private partnership aims to boost clean energy investment through the North East Investment Zone (NEIZ) and green industrial clusters.
Lloyds Banking Group commits to unlocking private capital for infrastructure, offshore wind, EV manufacturing, and supply chain growth.
Initiative aligns with net-zero targets and regional economic development through high-value job creation in clean energy.
Lloyds Banking Group, the Office for Investment (OFI), and North East Mayor Kim McGuinness have announced a strategic initiative to scale up green energy investment across North East England. Launched at UKREiiF, the collaboration aims to accelerate the region’s clean energy leadership and leverage its growing status as a national hub for offshore wind, renewable energy, and electric vehicle innovation.
“The initiative reflects our commitment to regional growth and enabling the transition to net zero, in partnership with one of the UK’s foremost clean energy regions,” said Charlie Nunn, CEO, Lloyds Banking Group. “By working together with NECA and OFI, we can increase innovation, create jobs, and stimulate long-term sustainable growth in the North East and beyond.”
At the heart of the plan is the £160 million North East Investment Zone (NEIZ), a government-backed growth engine aimed at catalyzing clean energy businesses and advanced manufacturing. The partnership will seek to unlock additional private sector funding to expand regional infrastructure and supply chains in areas such as offshore wind, battery production, and EV technology.
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Mayor McGuinness emphasized the importance of this alignment between public ambition and private capital:
“Green energy is a fundamental part of our region’s strategic Growth Plan,” she said. “I want the young people in North East England to grow up with the ambitions and opportunity of a high-value job in clean energy — and this is where we make that happen.”
She highlighted the region’s industrial heritage, skilled workforce, and advantageous geography — including three major North Sea ports — as key enablers. “We are putting in place the infrastructure and building the skills of local people in North East England through multi-million investments by the North East Combined Authority,” McGuinness added. “By working in close partnership with Lloyds Banking Group and OFI we can maximise the opportunity for business which the North East Investment Zone and cluster areas like the Tyne Economic Corridor provide.”
As the UK’s leading lender for infrastructure and project finance, Lloyds’ involvement signals a strong financial backbone for what could become one of the most important regional clean energy clusters in Europe. The effort aligns with broader national net-zero goals and seeks to position the North East as a testbed for scalable, investable green growth models.
Read the full press release here.
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