Essar Energy Transition (EET) has signed a deal to acquire Thornton Science Park through its subsidiary, EET Property Limited. This acquisition is part of EET’s strategy to develop a major energy transition hub in Europe.
Located near the Stanlow Manufacturing Complex, Thornton Science Park spans 66 acres and is a key player in scientific research and the Cheshire Science Corridor.
EET Expands with Strategic Acquisition
In a significant move, Essar Energy Transition (EET) has inked a sale and purchase agreement to acquire Thornton Science Park through its subsidiary, EET Property Limited. The financial details of the transaction remain undisclosed. EET aims to elevate its status by creating one of Europe’s foremost energy transition hubs, reinforcing its leadership in the North West’s energy shift.
Role of Thornton Science Park
Spanning 66 acres, Thornton Science Park is pivotal in scientific and industrial research. It connects the Cheshire Science Corridor, linking Liverpool and Manchester, and has been critical in identifying sustainable energy sources. This role aligns perfectly with the UK’s 2050 net zero emissions target.
Commitment to a Low-Carbon Future
EET’s acquisition underscores its ongoing commitment to making Stanlow a cornerstone of the UK’s low-carbon future. This move supports the Government’s decarbonisation strategy, ensuring that highly skilled jobs are retained in the North West. It’s a significant step towards the country’s energy transition.
EET’s Vision for Thornton Science Park
EET Hydrogen Power is also in the process of developing Europe’s first hydrogen-fuelled combined heat and power plant. Furthermore, Stanlow Terminals, the UK’s largest independent bulk liquid storage terminal, will continue to develop transport and storage infrastructure for biofuels and new energies.
Strategic Statements from EET
He highlighted how EET is committed to playing a leading role in helping the UK meet its climate change objectives, enhancing energy security, and maintaining a strong manufacturing base for fuels.
Proximity to Protos Site
The collective initiatives between these closely positioned sites are set to foster a collaborative environment, driving forward the energy transition agenda.
Future Prospects
As EET continues to invest in sustainable energy, the North West stands to benefit economically and environmentally. This acquisition is expected to lay the groundwork for further advancements in energy transition.
The acquisition of Thornton Science Park by EET marks a significant milestone in the region’s energy transition journey.
This strategic move not only enhances EET’s capabilities but also supports the UK’s broader decarbonisation goals.
