Lloyds Banking Group and North East Authorities Partner to Accelerate Green Energy Growth in the UK

Lloyds Banking Group and North East Authorities Partner to Accelerate Green Energy Growth in the UK

(IN BRIEF) Lloyds Banking Group has partnered with North East Mayor Kim McGuinness, NECA, and OFI to create a green energy hub in the North East. The initiative focuses on unlocking private sector investment to support the region’s green energy sector, including offshore wind, electric vehicles, and battery manufacturing. The partnership aims to drive sustainable economic growth, create jobs, and develop local talent in clean energy. The North East Investment Zone is a key component of this strategy, and the collaboration will continue to build on the region’s strengths as a leader in clean energy.

(PRESS RELEASE) LONDON, 21-May-2025 — /EuropaWire/ — Lloyds Banking Group is launching a collaborative initiative with North East Mayor Kim McGuinness, the North East Combined Authority (NECA), and the Office for Investment (OFI) to accelerate the region’s green energy sector, which is already a central part of the UK’s clean energy transition. The initiative is designed to unlock private sector funding and foster the long-term development of a leading green industry hub in the North East of England.

The North East is already a key player in the UK’s energy transition, with the £160m North East Investment Zone (NEIZ) fueling growth in clean energy, green manufacturing, electric vehicle production, and battery manufacturing. By working together, Lloyds Banking Group, Kim McGuinness, and the Office for Investment aim to support the region’s offshore wind and green industry, securing its position at the forefront of the global clean energy revolution.

Launching at the UKREiiF (UK Real Estate Investment and Infrastructure Forum), this new initiative will bring together businesses and financial services to identify opportunities for unlocking private investment. The focus will be on supporting regional infrastructure development and strengthening supply chains across the green sector.

As the UK’s leading bank in infrastructure and project finance, Lloyds Banking Group has a strong track record of supporting some of the country’s largest and most complex projects. This initiative reflects the bank’s commitment to regional growth and the transition to net zero. By collaborating with NECA and OFI, the initiative will stimulate innovation, create jobs, and drive sustainable economic growth in the North East and beyond.

Charlie Nunn, CEO of Lloyds Banking Group, highlighted the importance of clean energy for the region’s future, stating, “We want young people in North East England to grow up with the ambition and opportunity to pursue high-value jobs in clean energy. Green energy is a key component of our region’s Growth Plan, and this initiative will help build the infrastructure and local talent necessary to achieve it.”

Kim McGuinness, the North East Mayor, also emphasized the region’s strategic position, noting, “With our strong industrial background in clean energy and our access to three major ports on the North Sea coast, the North East is uniquely positioned to capitalize on green energy opportunities. By collaborating with Lloyds Banking Group and OFI, we will maximize the potential of the North East Investment Zone and the Tyne Economic Corridor.”

Lloyds Banking Group, NECA, and OFI plan to meet with other regional partners in the Autumn to outline the next steps for the initiative.

Lloyds Banking Group collaborates with partners across the country to accelerate investment in everything from social housing to energy infrastructure, supporting projects worth over £100 billion in the past five years alone.

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SOURCE: Lloyds Banking Group plc