New report reveals the economic benefit of Peak Cluster
Peak Cluster to provide £180 million per year economic boost from latter part of this decade
A NEW report by Mott MacDonald shows that Peak Cluster – a collaboration of industry in Derbyshire, Staffordshire, and Cheshire that is aiming to decarbonize 40% of the UK’s cement and lime industry – will provide a major boost for the regional and national economy.
The report highlights that Peak Cluster will impact very positively on the three counties, generating an additional £180 million gross value added (GVA) every year, starting from the latter part of this decade. It will also safeguard more than 2,100 existing jobs and create a further 1,500 roles throughout the construction and lifetime of the project.
Peak Cluster is made up of four of the UK’s leading cement and lime producers – Tarmac, Breedon, Lhoist, and Aggregate Industries, alongside the Lostock Sustainable Energy Plant, working together with low-carbon energy project developers Progressive Energy. A partnership with the Morecombe Net Zero Cluster for storage of the captured carbon was announced recently.
The need for an acceleration of delivery of new dedicated infrastructure to facilitate carbon capture and storage was highlighted in the National Infrastructure Assessment published on 18 October. The assessment specifically highlighted the need for the Peak District to be part of that infrastructure.
John Egan, Peak Cluster project director with Progressive Energy, said: ‘This report unequivocally demonstrates that decarbonization of this vital sector is an economic, as well as an environmental, imperative. We have the opportunity to decarbonize 40% of the UK’s cement and lime, to reduce CO2 emissions from Derbyshire and Staffordshire by nearly a quarter, and to enable domestic supply of sustainable construction materials – all whilst protecting and creating thousands of jobs.’
Dr Diana Casey, executive director for energy and climate change at the Mineral Products Association (MPA), said: ‘Production of mineral products represents the largest flow of materials in the UK economy. The cement and lime sectors are an important part of this material flow and generate in the region of £300 million in GVA each year.
‘To secure the low-carbon future of these vital industries, carbon-capture projects, including Peak Cluster, are necessary. Now this report demonstrates that decarbonization also brings significant additional economic opportunity, providing further justification to accelerate deployment.’
More information on Peak Cluster is available at: www.peakcluster.co.uk
