Orsted will directly invest or enable a further £14bn of investment in the UK’s Humber region over the next decade.
The prediction came in a report published today entitled ‘Economic Impact Study of Orsted Investments in the Humber Region’, which analyses its impact on the northeast England area.
The report has been produced by Opergy in partnership with Metro Dynamics on behalf of the Danish developer.
Orsted said it has invested or enabled investment of £9.5bn in infrastructure and assets since establishing a base at the Port of Grimsby in 2012 for the Westermost Rough offshore wind farm.
In that time, Orsted has also utilised the Humber to develop its North Sea projects Lincs, Race Bank, Gunfleet Sands, Hornsea 1 and Hornsea 2.
The developer opened its expanded East Coast Hub in 2019 which supports the existing six projects and which will deliver two more projects over the next decade.
Orsted’s report adds that it has contributed £816m of Gross Value Added (GVA) to the Humber economy over the last decade, with a further £960m forecast in the period to 2030.
It estimates around £45m of this has been invested directly into local community, education and skills development.
A total of 520 people are currently employed at the East Coast Hub, 230 of which are Orsted staff with operation and maintenance contractors making up the remainder.
It expects the number of people working at the Hub to increase to over 800 between now and 2030.