MPs urged to back multi-million pound plans for energy innovation centre in Peterborough

A campaign to raise £30 million to build an advanced energy research centre in Peterborough was kick-started today from the seat of government.

Peterborough MP Paul Bristow unveiled the ambitious venture to site a ‘Global Innovation Centre for Energy Transition’ on the university campus during a House of Commons debate on energy infrastructure spending.

If successful, it is expected the cutting edge centre would attract massive investment and innovative job-creating companies, such as BP, Shell and Rolls Royce, to the city.

Mr Bristow told MPs: “The proposals for a Global Innovation Centre for Energy Transition at Peterborough have the potential to leverage significant economic benefits for Peterborough and the UK.

"The investment proposals are expected to generate approximately £160 million of private investment over 10 years from 2025.

"This is against a public investment of £30 million.

"The benefits would provide a Benefit Cost Ratio of 3.3 which represent very good value for money.”

Mr Bristow told MPs that the centre was vital because: “There is an immediate need and opportunity for the UK to accelerate its transition towards a greener, low-carbon economy.”

And he said that in Peterborough, the city council, the Combined Authority, Anglia Ruskin University, and key businesses were already developing a case for a ‘high growth, energy cluster’ on the university campus on the Embankment.

He said: “The ambition is to create a new research institute, ‘The Global Innovation Centre for Energy Transition’, through which to attract large global energy production companies, including Shell, BP, Adnoc, and a consortium of domestic industrial high energy users and industries such as steel, glass and concrete producers - to develop the new technologies needed for the safe transmission, distribution and use of hydrogen into industrial and domestic applications.

He said: “The eco-system created will also focus on related technologies for the storage of hydrogen and CO2, as well as the production of sustainable aviation fuels.”

He said the benefits to Peterborough and the Fens would be the creation of 100 research and development direct jobs and 200 indirect jobs in related STEM activity plus 500 indirect R&D jobs with the participation of 150 local firms in global supply chains, as well as new business start-ups and spin-outs.

He added: “There will be a substantial positive economic impact on Peterborough City and the surrounding region such that investment in the R&D programme will generate positive effect on new opportunities for graduate-level employment, encouraging both local participation in HE and the local retention of graduates.”

Afterwards, Mr Bristow said: “The public lobbying for this centre starts now

“In terms of timescale, it would be good to have something worked up by the end of the year.”

The plans were first revealed three months ago when the issue was discussed by Mr Bristow, the city council leader Cllr Wayne Fitzgerald, the council’s chief executive Matt Gladstone and the Levelling Up minister Dehenna Davison.”