Developer unveils plans to create £5bn UK climate tech hub

The Earls Court Development Company, responsible for driving regeneration of the site of the former Earls Court Exhibition Centre in West London, is aiming to attract £5bn of investment to make the site a commercial space for the UK’s clean and climate technology sector.

Earlier this year, ECDC launched its draft masterplan which outlined its ambition to go beyond net zero for the development of the site.

Energy sharing network

The company is designing one of the UK’s largest combustion-free major mixed-use developments. The scheme will feature an energy sharing network, capturing heat from the air and ground and allowing it to be distributed to everyone-on site. Overall, the project will aim for zero per cent operational carbon and a 30 per cent reduction in site-wide energy consumption.

The company has now published its Principles for Future Living which sets out the plan for delivering sustainable buildings, landscape and places across the development.

Alongside a new neighbourhood of zero carbon homes, culture and nature, ECDC will be building 2.5 million square feet of workspace, which will include maker spaces, lab-enabled offices and large campus opportunities. The first bespoke developments are due to be ready for occupation by 2028. Some £5bn of investment will be attracted for commercial space, with the project to bring in £6.5bn of private investment, in total, for the whole development including residential space.

At a launch event in Earls Court, ECDC unveiled its plans to make London a climate tech hub with a panel event alongside techUK, Octopus Energy and London & Partners.

Europe’s climate tech ecosystem is currently worth more than £80bn and has doubled in value every year since 2020. Furthermore, the UK government targets two million skilled green jobs by 2030. However, according to ECDC, the UK is lacking a centre for this ecosystem. As central London’s largest cleared development opportunity, and based in Zone 1 with transport links to the UK’s major cities and airports, ECDC reckons Earls Court is well positioned to become the home for it.

Read more: smartcitiesworld.net

Picture: Freepik

Generated by Feedzy