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  • A view over the coast at Teesside.

    Sustainable finance

    Supporting the UK’s energy transition objectives

    Standard Chartered acted as lead arranger and hedging bank to support a new decarbonisation initiative.

    See the press release

We’re proud to support the East Coast Cluster, the UK’s flagship carbon storage and utilisation and storage (CCUS) initiative, by acting as mandated lead arranger and hedging bank in the financing of two projects.

The East Coast Cluster represents the best of what public-private collaboration can achieve.
Sridhar SG Nagarajan
Regional Head of Infrastructure and Development Finance, Europe and Americas

Two transformative projects

An engineer works on a laptop.

Northern Endurance Partnership (NEP)

NEP will develop and operate the transportation and storage infrastructure to collect CO2 from multiple sources in the Cluster, including NZT Power, and store it beneath the North Sea in an aquifer.

The Humber bridge.

Net Zero Teesside Power (NZT Power)

NZT Power will become the UK’s first commercial scale gas-fired power plant with integrated carbon capture, capturing up to 2 million tonnes of CO2 annually while providing up to 742MW of dispatchable, low-carbon energy to the grid.

Pioneering the financing of CCUS

  • Facilitating decarbonastion

    The deal supports decarbonisation of hard-to-abate emitters, in line with the UK’s net zero goals.

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    Establishing scalable models

    As a global leader in transition finance, we’re proud to help establish models for CCUS financing.

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    Supporting regional development

    The GBP8 billion investment will support thousands of jobs in Teesside and accelerate innovation.

The project will pave the way for the global adoption of CCUS as a bankable solution for decarbonising the highest emitting sectors.
Ben Daly
Global Head of Transition Finance

Learn more