Shepherd Offshore has entered into a partnership with North Tyneside Council to pursue redevelopment of the Swan Hunter Shipyard for the offshore wind sector.
Shepherd Offshore stated that it believes the site has a key role to play in supporting a transformative national industrial strategy for the energy sector in the UK.
The former shipyard is located on the North Bank of the River Tyne, with access roads, two quays, two river berths, a wet berth facility and vacant former office buildings.
The aim of the development of the Swan Hunter site is to attract investors and stakeholders, such as offshore wind companies, that can bring both value to the site and wider community.
Offshore wind farm project sites such as Dogger Bank, Hornsea and Firth of Forth can be accessed from the Swan Hunter shipyard site.
There is potential to link the Swan Hunter site to Neptune Energy Park.
The site is owned and managed by Shepherd Offshore and occupied by companies such as JDR Cables, Bridon-Bekaert, Royal IHC and Baker Hughes Energy Technology.
First opened in 1842 by Charles Sheridan Swan, the former shipyard is historic for its ship building, including the famous launch of Mauretania and construction of Ark Royal and Illustrious.
Shepherd Offshore said it is looking forward to working with the council by enhancing job creation and manufacturing capability to the Swan Hunter site.
Upon completion, Shepherd Offshore will be conducting a detailed assessment and due diligence of the present site’s assets.
Councillor Bruce Pickard, deputy mayor of North Tyneside Council and cabinet member for regeneration, said: “I am delighted that we have been able to secure its long-term future which I hope results in new jobs and opportunities for people here in North Tyneside and further afield.”
Shepherd Offshore chairman Bruce Shepherd said: “Shepherd Offshore’s plan is to remain supportive to the River Tyne North Bank Strategic Development Framework Plan (SDFP) by continuing to develop critical infrastructure and capacity, allowing the attraction of world class manufacturing and job creation.
“The company’s strategy is to attract businesses associated within the offshore, subsea, marine and energy sectors to the Swan Hunter site to continue enhancing the regions expertise.”