The Treasury has announced 15 out of a total 40 UK infrastructure projects that may get government funding.
The 40 projects are worth a total capital value of £33bn and have achieved prequalified status. This means that the government will act as a guarantor for a part of the capital value of the projects.
The news comes after the UK sealed the deal to build a nuclear power plant at Hinkley Point, Somerset.
Treasury chief secretary Danny Alexander said: “Getting our infrastructure right means we can be globally competitive, boost growth and create jobs across the UK. What we see today is the extent to which the government is reaching out to help the private sector build Britain’s key infrastructure.
“Having passed the first hurdle, these companies know the government is there to help if they need it. I hope today’s announcement will encourage even more businesses to consider how they can take advantage of a guarantee.”
The Treasury has announced only 15 “prequalified” projects today. Here’s the list:
1. A £300m 100 MW biomass energy generation facility by Helius Energy in Avonmouth, on the Bristol Channel
2. The £400m Islandmagee gas storage project, which will be capable of storing up two month’s worth of Northern Ireland’s total gas requirement
3. University of Roehampton campus redevelopment in south London;
4. Tilbury Green Power 60 MW waste wood-fired power generation plant in Essex
5. Two Intergen gas-fired power generation projects at Spalding in Lincolnshire and Gateway Energy Centre in Essex
6. Countesswells mixed-use development of homes, business spaces and shops in Aberdeen
7. Neart Na Gaoithe 450MW windfarm in the outer Forth Estuary
8. Able Marine Energy Park port facility for offshore renewable energy technologies on Humberside
9. Chinook Energy plants, producing renewable energy from waste at sites around the UK
10. Gasrec producer of low-carbon fuel for UK commercial vehicle fleets
11. Five Quarter Energy plant to process unconventional North Sea gas in the North East
12. Relocation of Northampton University
13. Northern Line extension to the London Underground
14. Mersey Gateway bridge and Hinkley C
15. Drax power station in North Yorkshire
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