The joint venture behind the £200m Yorkshire Energy Park has welcomed a new investor to its Board.
Vital Energi is a decarbonisation, energy generation and distribution company, operating across the UK. Its portfolio of work includes major city district heating schemes and energy generation and management schemes at hospitals and universities.
Vital will take a lead on the development’s energy strategy as part of the park’s vision to become one of the first zero carbon business parks in the UK.
“We’re proud to become the energy partner for Yorkshire Energy Park and play our part in design and delivery of a scheme which will provide great benefits to the tenants and to the local and regional economy. “The Park’s vision is truly impressive, and we are excited to deliver long-term resilient energy and multi-utility infrastructure that supports this vision. “We’re looking forward to seeing the development take shape over the coming months.”
The energy and technology business park received its formal decision notice in late 2020 following East Riding of Yorkshire Council’s Planning Committee approval in 2019. The flagship development is also a designated tax site as part of the Humber Freeport and is anticipated to create over 4000 jobs, across a range of sectors.
The joint venture has also appointed Andrew Reynolds as its Project Director, tasked with bringing the scheme to fruition.
Chris Turner, Chair of Yorkshire Energy Park, said:
"The Board is delighted to welcome both Vital Energi and Andrew Reynolds to the Yorkshire Energy Park project as we reach a crucial part of the project, with works due to start on site in the new year.
“Vital is a leader in modern energy solutions that support the decarbonisation ambitions of the UK. I’m looking forward to seeing their team apply this expertise to the Yorkshire Energy Park.
“Having spent a decade as Development Director at Hines, along with several other senior roles across the UK, Andrew also brings a wealth of experience to the project bolstering our existing team.”
Based at the former Hedon aerodrome site to the east of Hull, strategically located within the new Humber Freeport, the 212-acre Yorkshire Energy Park will consist of:
The delivery of the park will kickstart the economic future of the Humber region with over £200m inward investment anticipated. The target of 80% local labour through the construction period, along with the creation of trainee, graduate and apprenticeship opportunities will also ensure considerable social return on investment.
Andrew Reynolds, Yorkshire Energy Park’s Project Director said:
“The Humber is uniquely positioned to drive the growth of the North and become a global leader in combating climate change, and Yorkshire Energy Park will further contribute to this vision.
“With the first tranche of tenants set to be announced imminently, Yorkshire Energy Park will be one of the first projects nationally to take advantage of the Freeport benefits, attracting inward investment and creating highly skilled careers for future generations.
“I am looking forward to meeting residents and local stakeholders over the coming weeks.”