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Port of Blyth
With our support, Port of Blyth has redefined its purpose by helping businesses chart a course towards renewable energy initiatives.
Read time: 2 mins Added date: 01/06/2023
Port of Blyth’s story
Located on the East Coast of the UK, the Port of Blyth is the port operating division of Blyth Harbour Commission.
As a leading offshore energy support base, the Port is an important hub for the movement of a range of project cargoes particularly linked to the offshore wind sector. The Port also handles containerised, dry bulk and break-bulk cargoes, as well as being a key location for offshore decommissioning.
In addition to its record financial results for 2022, last year Lloyds Bank helped the Port make considerable progress in its commitment to net zero via the delivery of the first heavy lift electric crane of its kind in the UK, as well as the official opening of the Bates Clean Energy Terminal.
The terminal was once the largest coal exporter to Europe and a significant carbon emitter. Much has changed, notes Martin Lawlor, the Port’s CEO. “Overall, the Bates Clean Energy Terminal exemplifies the Port's journey towards decarbonisation and its ability to adapt and leverage new opportunities,” he says.
A strong foundation
The Port’s distinctive structure means it is neither a private company driven by shareholder interests, nor a public sector organisation controlled by central or regional governments. It operates instead as an independent statutory trust, allowing for decision-making that prioritises the Port's own growth strategy and the support of a wide range of stakeholders.
While the Port aims to be profitable, it does so within a long-term sustainability framework. It values partnerships over short-term gains and serves as a facilitator for the offshore renewables industry. Lloyds Bank’s Asset Finance facility has helped the Port in this respect – supporting its operations and ensuring its readiness for new opportunities.
The finance facility has allowed us to react quickly to new opportunities. We can plan strategically for the long term – and in fact the Port has been in partnership with Lloyds Bank since 1909! The bank’s team have been instrumental in navigating the unique challenges and language of the port industry. We trust them to facilitate our growth ambitions.
Martin Lawlor CEO, Port of BlythAsset Finance
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Harnessing collaboration
Over the next couple of years, the Port aims to expand its current solar energy assets further and explore additional renewable sources like heating from mine water and alternative low carbon fuels.
“We are actively engaged in the national policy process and are committed to achieving carbon neutrality by 2040, supporting the government’s commitments within the Maritime 2050 strategy,” adds Martin. “We anticipate continued growth in the offshore wind sector, and to that end a major offshore wind-focussed cable factory is being established on the estuary and we already have further commitments to support the mobilisation of some of the world’s largest offshore windfarms.”
These developments are expected to create thousands of new jobs in the area. Moreover, the Port and wider Energy Central regional partnership in South East Northumberland is involved in internationally significant projects, such as hosting the world's largest electricity interconnector, attracting clean hydroelectricity from Norway. Collaboration and partnerships will continue to be crucial in achieving these goals.
“We, together with our partners, are also passionate about addressing industry growth skills,” says Martin, “particularly within the offshore energy sector by bringing together employers, providers, and people within the Energy Central cluster. As a leading offshore energy base, we are perfectly placed to drive forward the skills required at all levels to support the growth of the sector.”
Take a look at some of the good things happening at Port of Blyth
With our support, Port of Blyth has redefined its purpose by helping businesses chart a course towards renewable energy initiatives.
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