Huge cable factory planned for Port of Tyne

Global InterConnection Group is in talks to build a major HVDC cable factory at Port of Tyne.The business has formed a joint venture with a subsidiary of Korean cable manufacturer LS Group, named LS Eco Advanced Cable, to develop the factory which is said will “deliver a substantial positive impact both environmentally and socially”.In a statement, the company said: “By providing the high-voltage cables to deliver dependable zero carbon energy, LS Eco Advanced Cables will help address the electricity supply volatility from growing dependence on wind and solar; reduce the UK’s dependence on fossil fuels for peaking power; enhance energy security and reduce energy prices for UK consumers and businesses alike.”It added that a “severe global shortage” of high voltage cable is causing a “critical bottleneck in the energy transition”.The joint venture has now signed an exclusivity agreement with the Port of Tyne to grant a long lease at the Tyne Renewables Quay site.It said that design specifications have already been produced and there is “strong national and local government support for the project”.LS Eco Advanced Cables aims to secure planning permission by the end of the year, with production expected in 2027.