East Anglia is set to benefit from £80 billion of investment in its major energy projects.

Of the £800bn being pumped into UK energy schemes, 10pc will be spent in the East.

Neil Golding, director of market intelligence for the Energy Industries Council (EIC), said it will be a boost for businesses in the region.

“There are sizable projects in the region and there will be significant pulls on the supply chain and the need to scale up,” he said.

“We could see more than £800bn spent on all of the energy projects across the UK if all of the projects announced proceed.

“East Anglia is not insignificant, with 10pc of the capital expenditure if everything goes ahead.”

Neil Golding, director of market intelligence for the Energy Industries Council (EIC)Neil Golding, director of market intelligence for the Energy Industries Council (EIC) (Image: Energy Industries Council)

He said offshore wind will account for a third of the £800bn UK energy spend, followed by nuclear.

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Some of the world’s largest offshore wind projects are located off the coast of Norfolk and Suffolk in the southern North Sea.

Offshore wind will account for 33pc of the £800bn UK energy project spendOffshore wind will account for 33pc of the £800bn UK energy project spend (Image: Vattenfall)

However, Mark Wilson, of Offshore Energies UK (OEUK), told the East of England Energy Group (EEEGR) Southern North Sea conference (SNS2024) that £100bn is needed to be spent on the National Grid to carry the power to where it is needed.

“We need to be action-focused with a faster pace of change,” he said, speaking at the annual conference at the Norfolk Showground last month.

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“We want to see more energy projects developed here, serviced by supply chain companies based in the UK.

“The multi-billion domestic investment was a huge opportunity. It will help companies compete for the £1 trillion global market.

Mark Wilson, of Offshore Energies UK (OEUK)Mark Wilson, of Offshore Energies UK (OEUK) (Image: TMS)

“We want to see a sign above the door that says clearly ‘the UK is open for business’, with understanding from the government that the UK is in competition against other countries for investment.

“We can’t stand still. The supply chain is the golden thread that runs through the energy transition.”