Pennon Group will accelerate its planned investment of £400m over the next two years by around £350m, taking the total investment to £750m.
Water resources and storm overflows will be the twin focus of the new spend, which the company said came as a result of listening to customers. It highlighted specifically:
• £100m to reduce releases from storm overflows down to an average of 20 a year by 2025, including prioritised investment at 49 at designated bathing waters;
• £125m for new water resources and two desalination plants in Cornwall to secure the long-term water security of the region; and
• £160m to accelerate Net Zero 2030 commitments, including a £35m investment in a renewable energy generation site in Dunfermline, and £25m in increasing battery storage capacity.
Pennon said the new investment would fund 200 new jobs, and boost the wider local economy given most of the spend would go on local suppliers and contractors. In addition Pennon said it would double its apprenticeship and graduate schemes to 1,000 by 2030, along with offering 5,000 work placement opportunities over the same period.
Comments